The Iran Energy Exchange (IEE) is ready to start trades of petroleum and natural gas through the Interexchange Electronic Union (IEU) only if the oil ministry agrees with it, said Ali Hosseini, the managing director of the energy exchange. He added that joining the regional and international unions and associations such as the IEU could be a very positive step for the energy exchange “but the process should be carried out subtly.” According to oil ministry officials, the energy exchange has been established to diversify crude oil trading with the involvement of the private sector. The energy exchange is expected to expand in the coming years considering the fact that Iran has the world’s fourth largest oil reserves and the second largest natural gas reserves in the world.
