ECONOMIC IDEAL –
TEHRAN (Tasnim) – Turkmenistan plans to supply nine billion cubic meters of natural gas per year to Iraq under a swap agreement that involves Iran.
Speaking on the sidelines of Turkmenistan Oil and Gas International Conference in Ashgabat, Deputy CEO of Turkmengaz (the national gas company of Turkmenistan) Myrat Archayev said his country will provide Iraq with gas through barter with Iran.
Iraq’s negotiations on the purchase of gas from Turkmenistan were held in August. The Arab country says its demand for gas is increasing due to the growth of infrastructures. Iraq is keen to sign a 5-year contract with Turkmenistan on the purchase of natural gas.
Presently, Turkmenistan is swapping gas to the Republic of Azerbaijan through Iran, Archayev said.
The Iranian oil officials have estimated the gas received from Turkmenistan at 4.5 million cubic meters per day.
Turkmenistan is one of the world’s largest holders of gas resources, thanks to the gigantic onshore Galkynysh field. However, its export options have been limited in part due to its landlocked position.