Iran set for oil and gas deals with China

First Vice President Eshaq Jahangiri said Iran’s new oil contract types will be introduced soon adding Tehran is ready to enter into mid- and long-term oil and gas contracts with Beijing.

In a meeting with a high-ranking Chinese delegation, he expressed the hope that China can play a more effective role in transmission of technology and execution of joint projects with Iran.

Jahangiri urged Beijing as Iran’s first trade partner on financing its joint projects at a minimum value of 30 billion dollars.

Chinese government’s special representative Zhang Yi welcomed the expansion of bilateral ties in the post-sanctions era and said Beijing is ready for further activating the existing energy and industrial cooperation with Tehran.