Post-sanctions Iran lining up $100bn energy deals: Report

14-Sep-2015

Tehran is lining up $100 billion worth of energy deals it wants to sign in the aftermath international sanctions being lifted, according to a new report by business intelligence service Meed.

The report cites the lifting of sanctions on Iran as one of the most significant changes to the regional business landscape, and said that the move offered huge opportunities for Iranian and international businesses.

The main United Nations, US and EU sanctions impacting Iran could be lifted, at the earliest, at the end of 2015 after the final assessment by the International Atomic Energy Agency (IAEA).

The Opportunity Iran 2015 report maintains that large-scale investment in oil, gas and petrochemicals projects will be Iran’s top priority once international economic sanctions are lifted.

Iran has the fourth-biggest oil reserves and the largest gas reserves in the world, but years of isolation from the global market has left its hydrocarbons sector in dire need of modernisation, said Meed.

Investment in Iranian projects is expected to surge once the removal of international sanctions opens the major Middle East economy for business. (by the staff, Emirates 24)