ASIA

Iran, Japan sign energy, downstream MOU

Iran and Japan have signed an MOU which will see the two countries cooperating in the energy sect...

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According to Iranian Deputy Oil Minister Mohammad Hadi Nejad-Hosseinian said, “Japan is the third largest consumer of oil and the sixth largest consumer of gas in the world, while Iran is the second major oil producer in OPEC. [Our] two sides can have more extensive cooperation in the field of energy [as] Japan is seeking guarantees for its energy resources and Iran is looking for guarantees for a reliable and long-term market for its natural gas and crude oil.”

“As an independent state, not under any country’s influence, Iran is willing to have closer cooperation with Japan. Tokyo is Iran’s first trading partner in international trade and Iran the third major supplier of crude oil to Japan,” added the minister.

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