Venezuela and Iran sign methanol agreement

29 September 2007 01:40  [Source: ICIS news]

HOUSTON (ICIS news)--Venezuela and Iran signed a new agreement regarding methanol, according to government sources on Friday.

“Iran and Venezuela will be together always,” Iranian President Mahmoud Admadinejad said on Friday, according to Venezuelan official state media reports.

The agreement concerns the creation of a fund called Veniran to back the jointly-owned state company Compania Petroquimica Veniran, contemplating methanol projects in the Pars region of Iran and in the Jose Antonio Anzoategui complex in Venezuela, according to state media reports.

Details of the projects were not available.

Ahmadinejad was in the Veneuzuelan capital on a state visit, where he signed the agreement with President Hugo Chavez.

The visit included a tour of local petrochemical facilities.

By: John Waggoner
+1 713 525 2653

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