TEHRAN, May 16 (Shana) -- Iran plans to increase its oil swap capacity in the Caspian Sea and other regions, Deputy Petroleum Minister for International Affairs Amir Hossein Zamani Nia said.

He made the remarks in the first international conference titled “Rail-Ports and Rail-Oil” in Tehran.

If the Neka oil terminal in the north of Iran gets completed, the present daily swap capacity of this terminal which is about 130,000 b/pd will increase to 500000, 1 million and 2,5 million bpd respectively at its three stages of completion, the official added.

He said that removal of sanctions increased foreign states particularly the Europeans’ interest to enter Iran’s market.

Zamani Nia referred to Iran’s geopolitical potentials including access to international waters, having 15 neighbors and giant hydrocarbon resources and said Iran has plan to develop its oil terminals in south and north including the Jask oil terminal.

Iran has done enough preparations in Neka port to use it as a hub for transfer of oil and its products from central Asia to other parts of the world, he added.

The official said that Iran should become the second oil producer among OPEC member states, the third gas producer and first producer of petrochemical products in the region according the 20-Year Vision Plan.

According to the 20-year vision plan, Iran should play key role in transfer of oil and its products as well as gas and petrochemicals in the region, he added.

Zamani Nia urged pursuing talks with Russia, Turkmenistan, Kazakhstan, Azerbaijan Republic and Iraq for oil and its products swap, adding that the Ministry of Petroleum supports development of Jask, Neka and Chabar ports.

The 4th International Exhibition of Rail Transportation, Related Industries and Equipment of Iran, dubbed RAILEXPO 2016, and the first international conference titled “Rail-Ports and Rail-Oil” opened in Tehran on May15, with Transport and Urban Development Minister Abbas Akhoundi and Industry, Mining and Trade Minister Mohammadreza Ne’matzadeh in attendance. The RAILEXPO 2016 will run until May 18.

By SHANA