Looking for investment: Iran Oil Minister Gholamhossein Nozari invites Germans to work in Iran
Iran seeks German investment
Iran's oil minister Gholamhossein Nozari told German energy companies they were welcome to invest in the Islamic Republic, which he said could become a major supplier of natural gas to Europe, according to local reports.
But Nozari also made clear during a visit to Germany that Iran, which sits atop the world's second-largest gas reserves after Russia, could develop its energy sector in the absence of investment from Western companies, wrote Reuters.
"Iran can not stop its development. Therefore we move forward with our work with the presence of Russian and Chinese companies," state broadcaster IRIB quoted him as saying during a meeting with managers from German energy companies.
IRIB did not name the executives nor their companies.
Germany, whose consumption of about 100 billion cubic metres of gas a year represents a fifth of the total in the EU, is among six major powers seeking to convince Iran to suspend nuclear work the West fears is aimed at making bombs.
Tehran says its nuclear programme is aimed at generating electricity but its refusal to halt uranium enrichment has drawn three rounds of UN sanctions since 2006, as well as separate US-led financial and other measures.
Analysts say the nuclear dispute has deterred particularly Western companies from investing in Iran, which is also the world's fourth-largest oil producer, while companies from energy-hungry Asian countries are more active.
Germany has been one of the biggest exporters to Iran in recent years, although the government, under pressure from major allies, has urged German companies to limit trade with Tehran.
Berlin has significantly cut the value of new credit guarantees it offers companies that do business with Iran, but German exports to the country still rose last year, according to figures seen by Reuters in February.
Nozari said German companies were only looking at the activities of other companies in Iran's oil and gas sector, IRIB reported.
"German companies should speak with their country's government about some behaviour that is outside the framework of the UN resolutions," he said, referring to the UN sanctions without elaborating.
"Our arms are open for investment and the presence of different companies," Nozari said. "This country (Iran) can be a major provider of gas for Europe."
Despite its huge reserves, Iran has been slow to develop gas exports, partly because of US sanctions that hinder access to technology, analysts say.
New US President Barack Obama, in a break from the approach of his predecessor George Bush, has offered a new beginning of engagement with Iran if it "unclenches its fist."