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

IEA: Middle East Conflict Reshaping Medium-Term Gas Outlook

ADNOC Drilling Finalizes MB Petroleum JV, Expands Regional Fleet

Middle East Conflict Jolts Offshore Drilling Market

US-Israel War on Iran Creates Biggest Energy Crisis in History

Saipem Bags $400M in Offshore Contracts from Aramco in Saudi Arabia

IEA Cuts Oil Demand, Supply Outlook Amid Iran War

Borr Drilling Expects Higher Activity as Rigs Return to Work

Israel Orders Restart of Ops at Karish Offshore Gas Platform

France Leads 15-Country Effort to Reopen Strait of Hormuz

Energy Crisis from War on Iran Deeper Than Widely Assumed

Current News

Lloyd’s Register Approves Wison’s Internal Turret FPSO Concept

Gulf Marine Services Profit Plunges After Gulf Vessel Evacuations

Eni Advances Giant Indonesia Gas Discovery after ‘Exceptional’ Well Test

IEA: Middle East Conflict Reshaping Medium-Term Gas Outlook

ADNOC Drilling Finalizes MB Petroleum JV, Expands Regional Fleet

Brent Near $114 as Middle East Conflict Continues

Thailand Cancels Offshore Energy Exploration Pact with Cambodia

Vessel Sector Deep Dive: WTIVs

Indonesia’s Mako Gas Project on Track for First Gas in 2027

CNOOC’s First Quarter Profit Rises on Higher Oil Prices, Output

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