The countries plan to establish separate commercial companies that will co-operate in hydropower and other electricity ventures.
Iranian energy minister Parviz Fattah described the pact as ‘win-win’ when asked how the deal would sit internationally amidst pressure from the US.
Turkey’s Minister of Energy and Natural Resources, Hilmi Guler, said after the signing ceremony that the agreement was in the country’s national interest.
Separately, Guler said that Turkey was rolling out its agenda of strategic co-operation in energy with neighbours, such as Iran. He also mentioned that Turkey was also looking to convey natural gas from Turkmenistan to Europe via Iran.
