Iran, Turkey strike new deal to increase gas exports
ERBIL, Kurdistan Region - Tehran and Ankara have reached a new agreement aimed at increasing Iranian gas exports to the neighboring country, an official said on Sunday, adding that the technical aspects of the process will be done in the next six months.
Following a meeting between officials of the Turkish state-owned crude oil pipeline company BOTAS and the National Iranian Gas Company (NIGC), Mohammad Reza Julaei, NIGC’s dispatching director, revealed that the two sides have struck a new deal to boost gas exports from Iran to Turkey.
“According to the agreement, all technical, operational and executive activities of gas export to Turkey will be carried out in the next 6 months with the coordination of both parties,” Iranian state media (IRNA) cited Julaei as saying on Sunday.
The new plans will see Tehran and Ankara coordinating on operational and repairing plans, renovation, Cathodic protection and coating of the pipelines, and several other matters related to gas export, Julaei added.
The dispatching director also highlighted the development of Iran’s gas industry, referring to it as “a reliable source of gas supply.”
Iran boasts the world’s second largest proven gas reserves and fourth largest oil reserves.
Iranian Oil Minister Javad Owji and Turkish Energy Minister Fatih Donmez met in Turkey’s capital Ankara on Saturday, discussing the need to extend the gas export contract between the two countries which expires in 2026.
Iran exports around 10 billion cubic meters of gas to Turkey annually, according to a 25-year deal signed in 2001.
Iran and Turkey signed a contract in 1996 at a time when demand for natural gas was growing in Turkey.
By Zheen Saman