Iran and Turkmenistan ink gas swap deal

20/10/2016 11:44 Natural Gas

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Iran and Turkmenistan have inked a gas swap deal, under which Iran takes 3 million cubic meters/ d from Turkmenistan on its northeast border and will supply the same amount to Azerbaijan from its own reserves at the other side of the country.

The swap fee will be paid by cash, stated Hamidreza Araqi, the director of National Iranian Gas Company. Iran and Azerbaijan swap about 350mn m³/yr of gas. Iran clears 15% of Azerbaijani gas amount as fee and delivers the remainder to the Nakhchivan Autonomous Republic, which borders Iran. Over the past 11 years in the time span between 2015 to 2013, Iran swapped more than two billion cubic meters of Azerbaijani gas to Nakhchivan. Last year, Iran imported 9 billion cubic meters of gas from Turkmenistan, but is trying to limit imports.

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