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Iran reaches out for new energy customers

Sept. 11, 2012 at 6:37 AM

TEHRAN, Sept. 11 (UPI) -- Iran announced it was ready to start exporting electricity to India and selling crude oil to the new Egyptian government.

Iranian Energy Minister Majid Namjoo was cited by the Iranian Students' News Agency as saying Iran was ready to help India met its energy requirements.

"All neighboring countries seek Iran's electricity," he said.

He said private companies in India could take steps to cooperate with Iran on renewable and pilot energy projects.

ISNA had reported the government was in talks with the Egyptian government on crude oil sales. Tehran has looked for new customers amid increased sanctions pressure on its energy sector. This week, the government said it delivered a crude oil shipment through private channels.

Full diplomatic ties between Iran and Egypt were severed 30 years ago. Last month, Egyptian President Mohamed Morsi handed the presidency of the 120-member Non-Aligned Movement to his Iranian counterpart Mahmoud Ahmadinejad during the organization's meeting in Tehran.

The U.S. and European governments have targeted the Iranian energy sector with sanctions out of concern revenue generated from oil could help fund a nuclear program that Tehran says is for peaceful purposes.

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