TEHRAN, May 16 (Shana) -- Iran has the capacity to become region’s energy hub, Managing-Director of National Iranian Tanker Company (NITC) Ali-Akbar Safaei said.

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

Iran is a country with giant natural resources and big import, export, swap and transit capacities which can transfer it to a hub for the world energy, the official added.

He said that Iran enjoys 55 percent of world oil and 70 percent of world gas which ranks fourth in case of oil reserves globally.

Noting that Iran has 18 percent of world gas reserves, Safaei noted that request for transfer of oil and its products are increasing.

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 SHAN