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Iran President Urges Strategic Energy Investments

Iran President Urges Strategic Energy Investments
(Tuesday, November 5, 2024) 10:55

TEHRAN (NIPNA) – Iranian President Masoud Pezeshkian urged a targeted and pragmatic approach to foreign investment in the country’s energy sector, calling for optimized use of available resources and partnerships, particularly with neighboring countries, to meet national development goals.

The president’s remarks came during a high-level meeting at the Presidential Office, which focused on the progress of joint investment projects with international partners.

The meeting was attended by Petroleum Minister Dr. Mohsen Paknejad, along with three of his key deputies, including the heads of the National Petrochemical Company, the National Iranian Gas Company, and the National Iranian Oil Company. The officials provided an update on current foreign investment projects and outlined collaborative efforts with Russia and Turkmenistan in oil, gas, and power sectors.

The President highlighted the importance of strategic foreign negotiations, emphasizing that "all available options should be used to develop joint solutions that align with national interests and benefit the Iranian people."

He stressed that in order to make significant strides, Iran must first assess its internal capacities before launching new projects. "We must avoid overextending our commitments by initiating more projects than we can complete. This has led to a backlog of incomplete projects," Pezeshkian remarked, citing the need for prioritization to avoid resource strain.

In response, Energy Minister Dr. Abbas Aliabadi and Atomic Energy Organization Head Dr. Mohammad Eslami reported on the status of negotiations with Russia and Turkmenistan, detailing ongoing cooperative efforts and future plans. The officials discussed how these partnerships could bolster Iran’s energy infrastructure and align with the government’s broader economic and energy objectives.

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