Iran, China to Extensively Cooperate in Energy Sector

China and Iran have agreed to cooperate extensively in the field of energy.

According to report by Iranian state news agency Shana, Beijing has agreed to invest in Iran's energy sector and take advantage of being there early post sanctions.

During Chinese President Xi Jinping’s visit to Tehran, the two countries signed 17 documents for strategic cooperation in economic, industrial, cultural and judicial fields.

Regarding energy cooperation, the two countries will promote mutual and multilateral ties in the fields of fossil and renewable energies, security of supply and demand and distribution of fossil fuels, Shana reported.

China will also finance upstream and downstream energy projects in Iran while the Iranian side will offer the necessary facilities and utilities for the development of the projects.

The Chinese president was on a trip to Saudi Arabia, Egypt and Iran.