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Monday, November 2, 2009     INTELLIGENCE BRIEFING

Turkey's refinery deal with Iran called 'strategic'

NICOSIA — Turkey has agreed to construct an oil refinery in Iran.   

Officials said the two countries would cooperate to build a refinery in northern Iran, Middle East Newsline reported. They said the facility was valued at $2 billion and marked a venture by the energy ministries of the two countries.

"The agreement reflects strategic cooperation between the two countries," an official said.

Also In This Edition

Under the accord, Turkey would also transport natural gas from Iran to Europe as part of Ankara's agreement to finance $5 billion worth of projects sponsored by Teheran.

The project was meant to pump 35 billion cubic meters of gas from Iran to the European Union.

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