Iranian Oil Minister Javad Owji says the country has reached agreements with Turkmenistan and Azerbaijan to double the amount of natural gas exchanged between the three as part of a deal reached in November.
Iranian Minister of Road and Urban Development Rostam Qassemi says that railway transit can bring about billions of dollars of revenues for Iran and Turkmenistan.
The agreement between Iran, Azerbaijan and Turkmenistan on a natural gas swap deal for up to two billion cubic meters of Turkmen gas has taken effect as of January 1, 2022, ILNA reported.
Iran, Turkmenistan and Azerbaijan have concluded a natural gas swap agreement for up to 2 billion cubic meters per year, which will take effect on Dec. 22.
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei said on Sunday that setting up a joint committee can help resolve the trade and border transit problems between Iran and Turkmenistan.
Despite COVID-19 adverse impacts on transit, the amount of Iran’s exports to Central Asia currently equals the pre-pandemic figures, according to a senior transportation official.
Iran and Turkmenistan have allowed limited transshipment of goods through a major border crossing nine months after it was closed because of movement restrictions imposed to curb the spread of the coronavirus pandemic.
Iran and Turkmenistan resumed trade exchanges via railroad through Inche Borun border in Golestan province late on Tuesday after100 days of hiatus due to the COVID-19 restrictions.
Iran has opened a key bridge connecting cities on the two sides of the border with Turkmenistan amid efforts to expand trade with countries in the Central Asia region.
Iran, Turkmenistan and Uzbekistan have agreed to adopt joint measures that could ease movement across the borders as they seek to restore trade exchanges hampered by the new coronavirus pandemic.