At its first meeting of the Regional Energy Trade Strategy Committee on Sunday, the AREF emphasized the importance of this objective as part of the government’s broader strategy.
It should be noted that AREF, according to its seventh five-year development plan (2024-28), must transform the Islamic Republic of Iran into a regional energy exchange hub.
He emphasized that the government is committed to pursuing this goal with determination. The first meeting of the Regional Energy Trade Strategy Committee was convened to move forward on this agenda.
He expressed his gratitude for the first meeting of the committee being held under the current administration, adding that the establishment of a secretariat within the Ministry of Oil will ensure regular meetings and expert decision-making in this area.
He also emphasized that implementing the plan would help address energy imbalances due to energy shortages, reduce industry losses due to energy shortages, and strengthen Iran’s position in the regional energy market.
During a meeting held at the first Vice President’s office with the participation of legal members of the Regional Energy Trade Strategy Committee, Petroleum Minister Mohsen Paknejad presented a comprehensive report on energy exchange agreements with neighboring countries.
He highlighted the positive impact of these agreements on addressing natural gas imbalances in northern Iran, developing strategic cooperation with neighbors, and increasing Iran’s position in the regional energy market. Paknejad explained that implementation of the program is extremely valuable to resolve the energy imbalances in Iran and increase its influence in the regional energy market.
Iran aims to become a regional energy hub under Article 44 of the seventh five-year development plan in line with the plan’s general policy. The goal is to achieve annual gas exports and imports, respectively.
Additionally, the plan includes 200,000 barrels of petroleum products per day, as well as exchanges of crude oil from independent states (CIS) countries and at least 20 billion kilowatt-hours of electricity per year. The Regional Energy Trade Strategy Committee was established within six months of the enactment of the law to oversee these efforts.
The committee is chaired by the President (or the first vice president in the absence of the president), and includes members of the Congressional Energy Committee as Ministers of Foreign Affairs, Oil and Energy, and observers.
The Committee is tasked with drafting the regional energy policy roadmap, identifying eligible countries in accordance with Articles 77 and 125 of the Constitution, and making decisions related to gas, electricity, oil and petroleum products export and import contracts, energy exchange services and transportation contracts.
MNA/shana.ir