TEHRAN - The third round of talks on promoting cooperation between Iran and Thailand in the energy sector was held at the Oil Ministry in Tehran yesterday.

Iranian Oil Minister Seyyed Kazem Vaziri-Hamaneh arranged the meeting to discuss LNG (liquefied natural gas) exports to Thailand.

A memorandum of understanding on the annual exportation of 30 million tons of LNG to Thailand was signed yesterday at the Thailand oil company, PTTEP, office in Tehran.

Thai Energy Minister Wiset Chuphiban called the negotiations very positive and added that the previous round in Bangkok had placed emphasis on the transfer and sharing of CNG (compressed natural gas) technology and collaboration to convert four-stroke gasoline engines to natural gas fuel engines.

In view of the contract on joint petrochemical ventures signed earlier in Bangkok, hopefully Iran can attain an active presence in the Thai market and Bangkok’s investment in South Pars in return can pave the way for joint activities in other energy projects, Vaziri-Hamaneh stated.

Thailand’s PTTEP is currently involved in exploration and development of the Saveh oilfield, and Iran plans to build fuel conversion stations in the East Asian country.

A PTTEP branch has already been established in Tehran to coordinate with the Iranian Oil Ministry on future projects.