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The Iranian Oil Minister discussed the extension of the gas contract and energy trade in a meeting with the country’s energy and economic officials during his visit to neighboring Turkey.
Javad Owji, who has traveled to Ankara at the head of a delegation, met with Fatih Dönmez and Nureddin Nebati, respectively the ministers of energy and economy of Turkey, as well as the head of the Central Bank of Turkey and major companies active in the energy sector of the country.
One of the highlights of Owji’s discussions with Turkish officials was the extension of Iran’s gas export contract to Turkey, the principles of which are agreed upon by both parties, and it was decided to form a joint working group to work on the issue of the contract extension.
The current 25-year contract for the export of Iranian gas to Turkey will expire in 2026.
On his trip, the two sides discussed increasing the amount of Iran’s gas exports to Turkey and building a new gas export pipeline to ramp up the capacity of gas transmission through this route.
During the visit of the Iranian oil minister to Turkey, two scenarios of increasing gas exports through a new contract or in the form of an extension of the previous contract were discussed.
In addition, there was a discussion and exchange of views about the reduction of the import tariff of petrochemical products from Iran to Turkey.
The other focal points of the negotiations in this short and intensive trip were inviting Turkish companies and investors to invest in projects in the upstream and downstream sectors of Iran’s energy sector, unveiling and explaining new investment contracts in the energy, oil, and gas sector and trade in petroleum products.
