Font Size

- Aa +

Tue 21 Aug 2007 12:41 PM

Font Size

- Aa +

Turkey, Iran to build power plant in Turkmenistan

Part of agreement signed over weekend to build three plants in Turkey and Iran.

Turkey, Iran and Turkmenistan will set up a company to build a natural gas-fired power plant in Turkmenistan, a senior Turkish energy ministry official said on Tuesday.

The agreement to build the power station was reached during weekend talks between Turkish and Iranian energy officials, which Turkey said on Monday also included plans to construct three separate thermal and natural gas-fired power plants in Turkey and Iran.

In addition, Turkey has said it will help to build a hydroelectric plant in Iran and will purchase three to six billion kilowatt hours of electricity from Iran to cover its shortages.

"Turkey will buy electricity that is produced in Turkmenistan over lines that will run through Iran in order to meet our increasing needs," the ministry official told Reuters.

The gas for the power plant will be supplied by Turkmenistan, the official said.

Turkey has rapidly expanded its cooperation on energy projects with Iran in recent months. This includes Turkish plans to invest $3.5 billion in the Islamic Republic's South Pars gas fields and to use Iran as a transit country for Turkmen natural gas.

The US has said it opposes the plan and does not support any investment in Iran.

Iran's caretaker Oil Minister Gholamhossein Nozari is expected to come to Ankara to sign the agreement for the plans next month.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.