China mulling investment in Iran gas sector

Tehran and Beijing have begun a new round of talks on the development of Iran's gas sector, says an Iranian deputy foreign minister.

Following the two countries' agreement on developing the Yadavaran oilfield in southern Iran, China has voiced interest in making new investments in the country's gas sector, said Mohsen Talaei, Iran's Deputy Foreign Minister for Economic Affairs.

China's biggest refiner, Sinopec, and Iran signed a $2 billion agreement in December on developing the Yadavaran oilfield.

The National Iranian Oil Company (NIOC) and the China National Offshore Oil Corporation (CNOOC) also agreed last year to sign a deal on the joint development of the North Pars gas-field.

Talaei made the remarks on the sidelines of the Boao Forum for Asia (BFA) annual conference, which began Saturday in the southern Chinese province of Hainan.

He said Iran was one of China's main energy suppliers, adding that the volume of the two countries' trade stood at $20 billion.

More than 1,700 politicians and business leaders from around the world gathered in the city of Boao on Saturday to discuss various issues, including climate change, financial reform and the future of the Internet.

(Source: Press TV)

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