BAKU, Azerbaijan, April 17. The volume of Turkmen gas swapping to Azerbaijan through Iran is expected to increase by 70 percent in 2023 compared to 2022, Iranian Deputy Oil Minister and CEO of the National Iranian Gas Company (NIGC) Majid Chegeni said, Trend reports citing Shana News Agency.
The deputy minister said that the swap of Turkmenistan gas to Azerbaijan through Iran increased by 358 percent in volume in 2022, compared to 2021.
“With the signing of an agreement on swapping Turkmen gas between Azerbaijan's SOCAR and the National Iranian Gas Company, Iran has expanded gas trade relations with Azerbaijan. At the same time, new conditions have been created for Iran to import gas from Turkmenistan,” Chegeni noted.
Azerbaijan, Iran and Turkmenistan signed a contract on swap gas supplies in the Turkmen capital on November 28, 2021. The document provided for the supply of Turkmen gas to Azerbaijan through Iran in the amount of up to 1.5-2 billion cubic meters per year.
Azerbaijan's Minister of Economy Mikayil Jabbarov and Iranian Oil Minister Javad Owji signed a memorandum of understanding in Baku on June 3, 2022, according to which it was envisaged to double the supply of Turkmen gas to Azerbaijan through Iran.
Iran stands second in the world for gas reserves, with about 34 trillion cubic meters of gas. Reportedly, Iran's gas production capacity is more than 1 billion cubic meters.
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