Iran, Turkmenistan, Azerbaijan in Gas Swap Deal

Reuters
Monday, November 29, 2021

 Iran, Turkmenistan, and Azerbaijan have signed a gas swap deal for up to 2 billion cubic meters (bcm) per year, Iranian state news agency IRNA reported on Sunday.

Under the swap deal, Iran will receive gas from Turkmenistan and deliver an equivalent amount to Azerbaijan at the Astara border, Iranian Oil Minister Javad Owji told state TV.

"Turkmenistan will sell 5-6 million cubic meters of gas per day to Azerbaijan under the trilateral agreement signed ...in Turkmenistan," IRNA said.

Owji also said Iran was moving to resolve a lingering gas debt dispute with Central Asia's Turkmenistan, which said in late 2017 that it was owed $1.8 billion in payments for gas delivered to Tehran.

"We will soon pay the first installment to clear the gas debt that we owe to the Turkmen side, after talks that were held earlier," Owji said, without giving the amount of the debt.

Iran has major natural gas fields in the south, but has imported gas from Turkmenistan since 1997 for distribution in its northern provinces, especially during the winter.

 (Reporting by Reuters' Dubai Newsroom, Editing by Louise Heavens and Alexander Smith)

Categories: Energy Middle East Industry News Activity

Related Stories

ADNOC, SLB Roll Out AI Platform Across More Than 120 Drilling Rigs

Hormuz Crossings Decline as US Renews Iran Blockade

Oil Rises 2% as Middle East Hostilities Escalate

Oil Jumps 3% on Renewed US-Iran Conflict

Ruwais LNG Commitments Top 90% Capacity with New INPEX Deal

Saudi Arabia Eyes Oil Pipeline Expansion to Red Sea

Israel Steps Up Mediterranean Gas Search

ADNOC Launches Global LNG Trading Powerhouse

SLB to Support Kuwait Oil's AI and Digital Tech Initiative

Hormuz Reopening Risks Turning Oil Shortage Into Glut

Current News

TenneT Completes Drilling, Installation of Protective Conduits for Wind Farms

ConocoPhillips, CNOOC Put Penglai Field off China Into Full Operation

Mermaid Maritime Expands Into US Offshore Market

ONGC Nears Venezuela Operatorship Deals, Regains Russia’s Sakhalin-1 Stake

Fugro Secures India Deepwater Drilling ROV Contract

Vantris Energy Secures Petronas’ Offshore Drilling Work Orders

ADNOC, SLB Roll Out AI Platform Across More Than 120 Drilling Rigs

Oil Rises as Uncertainty Clouds US-Iran Peace Talks

India’s ONGC to Allocate Half of New Oil Storage to Strategic Reserves

Subsea7 Lands ‘Sizeable’ Contract for Work Offshore Brunei

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com