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.
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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.