Italians Ready to Make Energy Investments

Italians Ready to Make Energy InvestmentsItalians Ready to Make Energy Investments

Iran's energy sector in post-sanctions era will have a high investment capacity, an Italian member of the World Energy Council said on Monday.

Jozpeh Preziuso made the statement on the sidelines of the 12th International Energy Exhibition (Kish ENEX 2016) that opened in Kish on Monday, IRNA reported.

The Italian energy analyst noted that the energy sector can play a key role in developing economic ties between Iran and Italy.

Tens of foreign companies have participated in the four-day energy event, which is the first after Iran and the West reached the historic nuclear deal in July to lift sanctions against the country in lieu of curbs on its nuclear program.

Underscoring the importance of holding such exhibitions, the Italian official noted that such gatherings create a perfect opportunity for the international energy giants to analyze and mull over cooperation possibilities with oil and gas companies in Iran.

The official added that grounds have been prepared so that Italian enterprises can not only transfer state-of-the-art knowhow to Iran, but also fund mega energy projects in the Persian Gulf state.

Preziuso believes that reasonable prices, untapped resources, committed workforce and geopolitical situation in the Middle East are among potentials that can change Iran into a unique hub for foreign investors.

"Competent companies are active in Iran's energy sectors," he said, noting that serious negotiations are underway with Iranian private and state firms to conclude technical contracts.

An Italian oil and gas delegation also set up an exclusive pavilion.

The potentials for making investment as well as producers' achievements in oil, gas, petrochemical, water, electricity and renewables aree showcased in the event.

According to the exhibition's website, about 200 companies from China, Turkey, the Netherlands, India, South Korea, Taiwan, Azerbaijan, Malaysia, France, Austria, the UAE, Spain, Germany, Belgium, Australia and Russia will take part in the energy expo, which will focus on investment.

The number of foreign companies coming to Iran for the Kish ENEX 2016 shows a big rise, compared to the previous edition. Some 60 companies from China, South Korea, Italy, Germany, Turkey, France, the Netherlands and India had participated in last year's event.

The World Energy Council is the principal impartial network of leaders and practitioners promoting an affordable, stable and environmentally sensitive energy system for the benefit of all.

Formed in 1923, the council is the UN-accredited global energy body, representing the entire energy spectrum, with more than 3,000 member organizations located in over 90 countries and drawn from governments, private and state corporations, academia, NGOs and energy-related stakeholders.

The council informs global, regional and national energy strategies by hosting high-level events, publishing authoritative studies and working through its extensive member network to facilitate the world’s energy policy dialogue.