Iran, Turkey Discuss 25-Year Gas Deal

Tehran and Ankara agreed to start negotiations on a new gas exports agreement which would allow an increased supply of natural gas from Iran to Turkey for a period of 25 years starting in 2026.
Talks on a new Iran-Turkey gas supply deal had started based on agreements reached between Iranian President Seyed Ebrahim Rayeesi and his Turkish counterpart Recep Tayyip Erdogan during a meeting in Tehran on Tuesday.
“It was agreed in this regard that a renewal of the contract for exports of Iran’s gas to Turkey for 25 years and an increase in the amount of exports would be on the agenda of the two sides and negotiations (on the issue) started after that,” a Tuesday report by President Rayeesi’s office said.
It added that the Iran had declared its readiness to provide Turkey with a stable supply of energy through its natural gas exports.
Iran has been supplying around 10 billion cubic meters of gas per year to Turkey under a 25-year agreement that was signed in 2001.
However, Turkey has been asking for increased supplies due to a rising demand for energy in the country’s household and manufacturing sectors.
Ankara has submitted similar requests to Russia and Azerbaijan, the two other gas suppliers to Turkey, while it is investing billions of dollars to develop a gas filed found in the Black Sea in 2020.
The agreement to start talks on a new gas supply deal on Tuesday came after Iran and Turkey signed eight memoranda of understanding to expand their cooperation in economic, cultural and political fields.

About Parvin Faghfouri Azar

Check Also

China’s Natural Gas Imports Rose by 14% in First Half of 2024

China’s imports of natural gas, including via pipeline and LNG cargoes, increased by 14.3% in …

Leave a Reply

Your email address will not be published. Required fields are marked *