Iran invites foreign investors in energy projects: President

Tehran: Iranian President Ebrahim Raisi has invited international investors and the member states of the Gas Exporting Countries Forum (GECF) to participate in the country’s energy projects.

Raisi made the remarks on Saturday at the seventh GECF Summit in the Algerian capital Algiers, according to a statement published on the website of his office.

He noted that Iran welcomed GECF members to start systematic cooperation in making joint investments for exchanging information and experience in gas extraction, processing, transfer, trade and related technologies, Xinhua news agency reported.

He added that Iran has huge natural gas reserves, a favourable geographical position regarding gas transit and advanced technological capacities.

Raisi said Iran is ready to become an energy hub and a safe route for gas distribution and transfer between producers and their target markets.

According to the Energy Information Administration affiliated with the US Department of Energy, Iran sits on the world’s second-largest gas reserves.