Iran, Turkmenistan and Azerbaijan sign gas exchange agreements

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DUBAI, Nov. 28 (Reuters) – Iran, Turkmenistan and Azerbaijan have signed gas exchange agreements for up to 2 billion cubic meters (bcm) per year, Iranian state news agency IRNA reported on Sunday.

Under the exchange agreement, Iran will receive gas from Turkmenistan and deliver a corresponding amount to Azerbaijan on the border with Astara, Iranian oil minister Javad Owji told state television.

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

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Owji also said Iran wants to settle an ongoing gas debt dispute with central Asian Turkmenistan, which in late 2017 said it owed $ 1.8 billion in payments for gas supplies to Tehran.

“We will soon pay the first installment to settle the gas debts we owe the Turkmen side, according to previous talks,” said Owji, without giving the amount of the debt.

Iran has large natural gas fields in the south, but has been importing gas from Turkmenistan for distribution to its northern provinces since 1997, especially in winter.

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Reporting by Dubai Newsroom, editing by Louise Heavens and Alexander Smith

Our standards: The Thomson Reuters Trust Principles.


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