Greek Prime Minister to close energy agreement in Iran

Baku. 3 February. REPORT.AZ/ Tsipras will arrive in Tehran on Sunday accompanied by Energy Minister Panos Skurletis, the President of the public company Hellenic Petroleum (ELPE) Grigorius Stergiulis, and other Greek entrepreneurs.

Report informs citing the foreign media, one of the most important aspects of the visit is to close the agreement between state Iranian Oil Company (NIOC) and ELPE, to pay off the debt of the Greek firm, estimated at about 600 million Euros, which was not paid up now because of the economic embargo imposed by the United States to Iran.

Sources consulted by Prensa Latina reported that half of the bill is expected to be paid by Greece with refined products, mainly diesel fuel, and 10 percent through engineering services for the improvement of the Iranian refinery facilities.

During the visit both sides will decide the date for starting the supply of Persian crude, probably in March or April, and if NIOC can buy a part of ELPE, according to the interest shown a few days ago by the Iranian deputy oil minister, Amir Hossein Zamaninia.

Greece has sold 35 percent of the public company within its current program of privatization of state assets, and that participation could be a way for Tehran to enter the European market, after three years of sanctions.

With the same objective, Tehran cut prices on oil supplies to countries like Greece, Italy and France, while seeking ways to invest in exploration and oil refining.