Although Iran possesses age-old and precious experience in trades. steps need to be taken in vies of formation of new markets.

The official stance of NIGC against the gas cutout by Türkmengaz was previously posted on website of the Iranian company on January 01. 2017

The new IPC has more flexible terms that take into account oil price fluctuations and investment risks.

Iran consumes some 700 million cubic meters of gas per day.

Iraq imported 800-1.000 MW of electricity from Iran under the previous contract.

The Vitol Iranian deal was signed in October and will come into effect this month. one of the sources who is based in Tehran said.

The aim of development South Yaran field is production of 50.000 to 60.000 barrels of oil and 60 million cubic feet of gas a day.

BP is taking a more cautious approach ahead of a Donald Trump presidency which threatens renewed diplomatic tensions with Tehran.

Iran is Turkey'.s second-largest gas supplier. pumping as much as 10 billion cubic meters of gas to the country annually.

Iraq is willing to export its oil in the forms of swap or transit to the target markets via Iran.