Financial data and news provider Bloomberg on Thursday cited two people with direct knowledge of the talks as saying that the deal could be signed as early as November.
The deal would cover five areas: oil and natural gas contracts, renewables and energy efficiency, power markets, energy infrastructure and investing directly in Irans energy industry, it said.
The accord would pave the way for any talks on specific contracts in the future, Bloomberg added.
Europe is taking great pains to diversify its energy sources and reduce reliance on Russia which accounts for 27% of the gas consumed in the continent.
In itspolicy paper last year, the European Commission mentionedIran as a potential sourceof energyin the face ofthe Wests rising tensions with Russia.Iran sits on the world's largestproven gas reserves estimated at 34 trillion cubic meters.
[caption id="" align="alignnone" width="555"]
A Gazprom worker walks next to pipelines at a gas measuring station at the Russian-Ukrainian border.[/caption]On Thursday, the executive arm of the 28-nation EU saidit will explore areas of bilateral cooperation with Iranincluding on energy after the removal of sanctions.
For now, the commission is focusing on preparatory work for launching a dialog on energy with Iran "when the conditions are right", Bloomberg quoted it as saying.
The Europeans joined the US in imposing sanctions on Iran in 2012 which mainly targeted the countrys energy industry.
Last months conclusion of nuclear talks has triggered a race among the Europeansfornew business opportunities in Iran. Ministers from Germany, France, Italy and UK have traveled to Tehran with executives of major companies whilefurther visits areon the cards.
Irans energy officials, however, say Asia is the countrys top priority for exports because gas prices are too low in Europe. Tehran has specifically poured cold water onthe idea of piping gas to Europe because of the high costs involved.
Minister of Petroleum Bijan Zangeneh has said Iran would like to transfer its gas to Europe in the LNG form but the option wont be available for the next three years at minimum.
Nevertheless, EU foreign policy chief Federica Mogherini plans to meet Iranian officials in New York in September to discuss energy cooperation among other things, Bloomberg said.
By Press TV
