A source in the Iraqi foreign ministry has confirmed the Arab country will pay $2.76 billion worth its energy debts to Iran as part of a recent understanding with US authorities.
The National Iranian Gas Company raised its natural gas exports in 2022 by 17%, the managing director of Iranian Gas Transmission Company said.
Noting that Iran and Iraq have two gas export contracts in place, the Iranian Oil Minister Javad Owji says that the two neighboring countries have agreed to extend the contracts in the next five years.
Iran and Russia are still in talks over a potential agreement that will allow the delivery of Russian oil and natural gas supplies via Iran to other countries under a swap arrangement.
Iran has resumed pumping gas to neighboring Iraq after repairing operations, according to an official with the knowledge of the matter.
A potential gas swap deal with Russia could earn Iran at least $6bn a year, according to IRENEX figures.
Iran is pumping more oil to Iraq, Iran’s oil minister said with reference to the settlement of Baghdad’s all payments related to purchases from the National Iranian Gas Company.
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.
The National Iranian Gas Company (NIGC) CEO has said that Iran and Iraq have begun negotiating to extend a gas supply deal under which Iran pumps gas to Iraq.
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.