Friday, 19 November 2010

Iran-Azerbaijan sign transport and energy co-operation agreement

The Iranian president, Mahmoud Ahmadinejad, has said that Iran will increase co-operation with Azerbaijan, especially in the transport and energy sectors. He added that an agreement was reached after in-depth talks with Azerbaijani president Ilham Aliyev.

"Iran-Azerbaijan relations are more than relations between two neighbouring, friendly countries. They are relations between two fraternal nations. No one can interrupt our relations," said Ahmadinejad.

According to official statistics, compiled by the Azerbaijani State Statistics Committee, trade turnover with Iran totalled $167.26 million in January-September; $76.87 million accounted for imports from Iran and $90.39 million for exports to the country.

The two countries are connected via the, 1,474.5km long, Gazi-Magomed-Astara-Bind-Biand gas pipeline. The route is a branch of the Gazakh-Astara-Iran gas pipeline, which was commissioned in 1971. The State Oil Company of the Azerbaijan Republic (SOCAR) is in the process of constructing a new compressor station in the Astara region, which will increase gas transportation to Iran by late 2010.

The gas supplied to Iran is used to deliver fuel to the Nakhchivan Autonomous Republic .Once the expansion of the gas compressor station in Astara is complete it will fully provide gas to Nakhchivan Autonomous Republic.

Source: Trends News Agency

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