Crude, LNG Export Discussed With Poland

Crude, LNG Export  Discussed With PolandCrude, LNG Export  Discussed With Poland

Iran and Poland discussed areas of economic and energy cooperation in a meeting between Iran's Oil Minister Bijan Namdar Zanganeh and Poland's Deputy Prime Minister and Economy Minister Janusz Piechocinski on Saturday in Tehran.

"Iran is ready for oil exports to Poland," Zanganeh said after the meeting, underlining an oil trade deal as a first step for Tehran and Warsaw to start a new chapter in bilateral relations, IRNA reported.

"Poland is willing to embark on cooperation with Iran in energy projects. The eastern European country's renovated refineries are ready to receive and process Iranian crude."

Piechocinski, who is heading a high-ranking delegation of Polish officials and businessmen to Tehran, hailed the agreement on Iran's nuclear program as "a good deal for the region and the world" and described it as a cornerstone to expand economic, cultural and political ties with the Islamic Republic.

Iran and six world powers reached a historic deal on July 14 in Vienna that would limit the Persian Gulf country’s nuclear program in return for removing sanctions on its energy and financial industries.

Shipping liquefied natural gas, or LNG, to polish terminals was also discussed with the Polish envoy. However, the exports will take effect once several LNG production units in Iran become operational.

The two sides also discussed underground gas storage and energy consumption efficiency techniques, and agreed to hold further meetings on the issues.

The Polish delegation is the latest European mission to arrive in Tehran to explore grounds for cooperation. Tehran has hosted top trade delegations from Spain, the Netherlands, France, Austria, Spain and Germany in the past few weeks, preparing multibillion-dollar agreements in economic and energy sectors for the post-sanctions' period.

Trade With Poland

According to Zanganeh, trade balance between Iran and Poland reached a record high of $500 million in 2012, but plans call for raising bilateral transactions to as much as $1 billion,

The present Polish-Iranian trade is below potential for both countries. In 2014, Poland’s exports to Iran amounted to €34.9 million and imports to €22.4 million. Trade volume exceeded €57 million. Exports in January-May 2015 amounted to nearly €16 million.

Earlier this year, Iranian Ambassador to Poland Ramin Mehmanparast hoped that Polish firms will operate on the Iranian market.

“Iran, in terms of hydrocarbon resources, meaning gas and crude oil, is first in the world. We are ready to begin cooperation with Poland in this area.”

The ambassador added that Iran is preparing its own economic mission to Poland, which will see Iranian businesspeople take part in Polish trade fairs.