BAKU, Azerbaijan, November 30. Iran is ready to extend its current gas agreement with Türkiye, Trend reports.
Iranian Foreign Minister Seyyed Abbas Araghchi announced this at a joint press conference with Turkish Foreign Minister Hakan Fidan in Tehran on November 30.
Araghchi emphasized that Iran is one of Türkiye’s most reliable energy suppliers and intends to expand cooperation in the electricity sector. He also expressed readiness to develop bilateral relations in all areas and proposed expert-level meetings to discuss a preferential trade agreement.
The Iranian minister noted that the meeting highlighted the importance of removing barriers to investment and trade. It was agreed to address these issues in detail through meetings of the joint Economic Commission and the Supreme Cooperation Council between the two countries.
Turkish Foreign Minister Hakan Fidan visited Tehran on the same day for talks with Iranian officials.
Iran holds the world’s second-largest gas reserves, estimated at approximately 34 trillion cubic meters, with a production potential of over 1 billion cubic meters. The 25-year gas contract between Iran and Türkiye is set to expire in December 2026.