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Iran & Turkmenistan Reach Agreement on Gas Cooperation

Source: www.gulfoilandgas.com 12/22/2012, Location: Asia

Islamic Republic of Iran and Turkmenistan have reached agreement on boosting cooperation in oil and gas sector.

Elaborating on results of his recent visit to Turkmenistan, NIGC’s managing director, Javad Oji, said: Negotiations took place in the framework of previous contracts and fortunately, the results were completely satisfactory.

Stating that gas flow is underway from Turkmenistan to Iran, Oji said that gas import from Turkmenistan is going on under a long-term contract between the two countries.

Oji described negotiations with Turkmen officials very constructive adding part of the negotiations were focused on expanding energy cooperation including participation of Iranian manufacturers in providing Turkmen needs to industrial equipment.

Oji sais that the government-owned gas company, Turkmengaz, had confirmed quality and standards of Iranian made industrial equipment and the two sides had signed agreements on export of Iranian made oil and gas items to Turkmenistan.

Islamic Republic of Iran and Turkmenistan signed a 25-year gas trade contract in 1997 under which a 200 kilometers pipeline was constructed for gas imports from the neighboring country.

On 27th November a high ranking oil delegation headed by Iranian minister of petroleum, Rostam Qasemi, visited Turkmenistan to talk on energy exchange, rising gas import from Turkmenistan and other issues including exporting Iranian made oil industry equipment to the neighboring country.

Iran and Turkmenistan sit atop the second and fourth largest gas reserves in the world.

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