Tehran, Aug 22, IRNA - Iran will cooperate with Azerbaijan on gas transportation to Europe through the �Southern Gas Corridor�, said Iranian Minister of Communications and Information Technology Mahmoud Vaezi in an interview with Trend News Agency on Thursday.

Vaezi, who also co-chairs the Iran-Azerbaijan intergovernmental commission for economic, trade and humanitarian cooperation, added that his country, in addition to Asian market, plans to export gas to the European market as well.

�Transportation through Azerbaijan is one of the ways of bringing Iran�s gas to Europe,� said Vaezi. �I believe we will be able to cooperate with Azerbaijan in the use of the �Southern Gas Corridor�. We have held talks in this regard with the energy minister of Azerbaijan and the relevant structures.�

He said officials from both countries are constantly negotiating on the gas sector, adding that the talks will continue.

The minister also noted that relations between Azerbaijan and Iran in the oil and gas sector stand at a very good level.

�I believe the parties mutually need each other,� Vaezi added. �At present, Azerbaijan is supplying gas to the Nakhchivan Autonomous Republic (NAR) through swap operations with Iran. On the other hand, at a certain time, Azerbaijan�s demand for gas increases, and we can meet it. In turn, during certain periods there is gas shortage in Iran, which Azerbaijan can cover.�

The �Southern Gas Corridor� will make it possible for Europe to diversify its hydrocarbon sources and increase its own energy security, while Azerbaijan will get a new market in Europe.

Azerbaijan�s gas is intended to go first through the �Southern Gas Corridor�.

On December 17, 2013, a definitive investment decision was made on the second stage of development of �Shah Deniz� offshore gas and condensate field for ensuring Azerbaijani gas supplies to Europe.

Some 10 billion cubic meters of gas to be produced at �Shah Deniz� will go to Europe, while six billion cubic meters of it will be delivered annually to Turkey.

In the second stage of development of �Shah Deniz�, gas will be exported to Turkey and European markets through expansion of the �South Caucasus Pipeline� and construction of the �Trans-Anatolian Natural Gas Pipeline� (TANAP) and the �Trans-Adriatic Pipeline� (TAP).

The proven reserves of �Shah Deniz� stand at 1.2 trillion cubic meters of gas. The contract for development of this field was signed June 4, 1996

By IRNA