Iran Looking To Tie Up Loose Ends On New Gas Agreement With Turkmenistan

2025-05-19 08:03:50

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 19. Iran hopes to sign a new gas agreement with Turkmenistan, said Farzaneh Sadegh, Iran's Minister of Roads and Urban Development, Trend reports.

Addressing the 18th session of the Iran-Turkmenistan Joint Economic Cooperation Commission (JECC) today in Tehran, Sadegh noted that a preliminary gas deal was reached last year and that multiple rounds of discussions have since been held to finalize a long-term contract.

She added that Turkmenistan has been offered to export 40 billion cubic meters of gas to Iran annually. In return, Iran would construct a 125-kilometer-long pipeline, build two pressure-boosting stations, ensure timely payment for the gas, and allow the use of Iranian companies' expertise in various segments of the bilateral gas industry. The proposal is now awaiting a response from the Turkmen side to finalize the agreement.

To note, the National Iranian Gas Company (NIGC) and Turkmengaz (Turkmenistan's state gas company) signed a 25-year contract in 1997 under which Turkmengaz was to export 8 to 10 billion cubic meters of gas to Iran annually. However, in 2016, Turkmengaz halted exports, citing unpaid debts by the Iranian side.

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