Iran aims to become energy hub in region: Veep

Iran's First Vice President Mohammadreza Aref stated that Iran is striving to become a regional

News ID: ۲۰۰۱۰۰۰

16 March 2025

EghtesadOnline: Speaking at the inaugural meeting of the Regional Energy Trade Strategic Committee on Sunday, Aref highlighted the importance of this objective as part of the government’s broader strategy.

Aref noted that, according to the Seventh Five-Year Development Plan (2024-28), the Islamic Republic of Iran must transform into a regional energy exchange hub.

He stressed that the government is committed to pursuing this goal with determination. The first meeting of the Regional Energy Trade Strategic Committee was convened to advance this agenda.

He expressed gratitude that the committee’s first meeting was held under the current administration, adding that the establishment of a secretariat within the Ministry of Oil will ensure regular meetings and expert decision-making in this field.

Aref also emphasized that implementing this plan could help address energy imbalances, reduce losses in the industry due to energy shortages, and strengthen Iran’s position in the regional energy market.

During the meeting, held at the First Vice President’s office with the participation of legal members of the Regional Energy Trade Strategic Committee, Oil Minister Mohsen Paknejad presented a comprehensive report on energy swap agreements with neighboring countries.

He highlighted the positive impact of these agreements on addressing natural gas imbalances in northern Iran, developing strategic cooperation with neighbors, and enhancing Iran’s standing in the regional energy market. Paknejad described the implementation of this plan as highly valuable for resolving Iran’s energy imbalances and increasing its influence in the regional energy market.

Under Article 44 of the Seventh Five-Year Development Plan, in line with the general policies of the plan, Iran aims to become a regional energy hub. The goal is to achieve annual gas exports and imports of 40 billion cubic meters and 20 billion cubic meters, respectively.

Additionally, the plan includes the swap of 200,000 barrels per day of petroleum products and crude oil from Commonwealth of Independent States (CIS) countries and the exchange of at least 20 billion kilowatt-hours of electricity annually. The Regional Energy Trade Strategic Committee was established within six months of the law’s enactment to oversee these efforts.

The committee is chaired by the president (or the first vice president in the president’s absence) and includes the ministers of foreign affairs, petroleum, and energy, as well as a member of the parliamentary energy commission as an observer.

The committee is tasked with drafting a regional energy policy roadmap, identifying target countries in compliance with Articles 77 and 125 of the Constitution, and making decisions related to export and import contracts, energy swap services, and transit agreements for gas, electricity, oil, and petroleum products. / Mehr