The value of Iran’s exports to neighboring Turkey increased by 24 percent to reach $3.1 billion in the first 11 months of 2022, according to the figures recently released by the Turkish Statistical Institute.
Azerbaijan, Russia and Iran may participate in gas hub project in Turkey, said Turkish Energy Minister Fatih Dönmez, according to Azerbaijan’s Trend news agency.
Figures by the European Union’s statistical office (Eurostat) showed that supply of natural gas from Iran to Turkey rose by 70% year on year in October.
Iran and Turkey traded $4.08 billion worth of goods during the first three quarters of 2022 to register a 24.15% year-on-year rise, latest data released by the Turkish Statistical Institute show.
Iran has pumped more than 7 billion cubic meters of gas to neighboring Turkey in the first nine months of 2022, according to a report by Eurostat, the statistical office of the European Union.
During a visit to Turkey, Iranian Minister of Petroleum Javad Owji and senior Turkish economic and energy officials held negotiations on extension of a long-term agreement for pumping Iranian gas to Turkey.
Iran will resume power exchange with Turkey in the near future based on a back-to-back letters of credit system, Iran’s energy minister said.
Iran has reportedly stopped pumping gas to Turkey due to a maintenance project on the Iranian pipeline to Turkey.
A new report by Turkish Statistical Institute suggests that Iran’s exports to Turkey in the first seven months of 2022 has grown by 56% compared to the same period in 2021.
Caspian Airlines has launched direct flights between Tabriz, the capital of East Azarbaijan Province, and Istanbul, Turkey.