Iran, Turkmenistan officially sign gas swap agreement to supply to Iraq
Iran, Turkmenistan officially sign gas swap agreement to supply to Iraq
2024-07-04 00:33
Shafaq News/ Iranian official media reported on Thursday that an agreement was signed to exchange gas between Iran and Turkmenistan, after intensive negotiations.
The media reported that a contract was signed yesterday, Wednesday, to exchange gas between Iran and Turkmenistan, and then supply it to Iraq.
She added that the signing ceremony of this agreement took place during a ceremony attended by Ali Mojtaba Roozbahani, Iran’s ambassador to Turkmenistan, and “Maqsad Babayev”, the head of the gas company in this country.
A joint statement by the two sides stated: The Republic of Turkmenistan and the Islamic Republic of Iran have been working on the basis of the principles of friendship, good neighborliness, mutual respect and equal participation to develop cooperation based on mutual interests in the gas sector for years.
The statement added: The positive experience of joint activities in the field of gas export from Turkmenistan to Iran and from there to third countries, formed a fundamental pillar for expanding the scope of bilateral cooperation in this field.
Based on this agreement, it was decided to supply 10 billion cubic meters of Turkmen gas annually, via Iranian territory, to the Republic of Iraq, based on the exchange mechanism, according to the statement.
On 10/6/2023, the Iraqi Minister of Electricity, Ziyad Ali Fadhil, signed a memorandum of understanding with the Turkmen Minister of State for Gas Affairs, to supply Turkmen gas to Iraq.
Iraq imports electricity and gas from Iran for between a third and 40 percent of its energy needs, which is critical, especially in the summer months when temperatures reach 50 degrees Celsius and energy consumption peaks.
Iraq is facing difficulty in paying for these imports due to US sanctions that only allow Iran to obtain funds to purchase non-sanctioned goods, such as food and medicine.
shafaq.com
