2 May 2007 - 14:54
  • News Code: 103730
Energy Market Manageable by Consensus

RIYADH -- Iran’s Minister of Petroleum Seyed Kazem Vaziri-Hamaneh here Wednesday called on his Asian counterparts to manage the energy market through unanimity.

The visiting minister made the statement in the second Asian ministerial meeting in the Saudi capital.

He underlined the importance of security of energy market, warning the industrialized states against manipulating its features if they planned to manage the market.

Vaziri-Hamaneh shifted to the growing demand for natural gas and said, “The perspective of world’s long-term economic growth reveals that the consumption of energy particularly gas will grow.

“The Persian Gulf littoral states that have the potential to boost their energy output will meet the main part of the growing need in parallel.

“Witnessing a slight drop, oil will maintain its share of global energy demand and gas will gain more in the international market.”

The top official said the Asian Continent had the potential for rapid economic development and growth of demand for energy, forecasting the remarkable promotion of oil and gas trade in the Asian countries.


News Code 103730

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