Iran and Turkmenistan are scheduled to sign a major natural gas supply deal soon under which Turkmenistan will pump 10 million cubic meters per day (mcm/d) of gas to its southern neighbor, Iran’s oil minister has said.
Javad Owji made the remarks while speaking to reporters on the sidelines of a meeting on Tuesday with Batyr Amanov, Turkmenistan’s deputy prime minister for oil and gas affairs.
Iran’s Oil Minister Javad Owji (R) and Batyr Amanov, Turkmenistan’s deputy prime minister for oil and gas affairs are seen after a meeting in Tehran, Iran, May 30, 2023.
Turkmenistan sits on the world’s fourth largest gas reserves and Iran is also capable of receiving 40 to 50 mcm/d of gas, Owji said, adding that gas imports from Turkmenistan will begin within weeks.
The minister said that Iran aims to boost its gas trade with Turkmenistan, including through swap, transit, sales and purchase agreements, adding that this could be beneficial for both countries,
He also said that Iran has paid some $1.65 billion to Turkmenistan to settle its energy arrears to the Central Asian country.