Turkey's refinery deal with Iran called 'strategic'
Monday, November 2, 2009 E-Mail this story Free Headline Alerts
NICOSIA Ñ Turkey has agreed to construct an oil refinery in Iran.
Officials said the two countries would cooperate to build a refinery in northern Iran. 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.
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.