Iran's Role and Importance in the Energy Market of the ECO Region

The region encompassing Economic Cooperation Organization (ECO) represents one of the richest parts of the world; it enjoys great potentials and opportunities for trade and economic cooperation, especially with respect to oil and natural gas resources. The region’s massive energy resources can be utilized by the ECO, both within the region - including to meet the growing energy needs of its landlocked members - as well as with other partners outside of the region. Utilization of the region’s energy resources constitutes an important part of the Organization’s strategy, particularly by its founding members – Iran, Pakistan and Turkey. Iran, lying between two energy-rich areas - Persian Gulf in the south and the Caspian Sea in the north – and major oil and gas producing and exporting country, is one of the most important members of the ECO and its entire region. In this article, the authors discuss the role and importance of Iran plays in the energy market of this region.