Iran and Turkmenistan have finalized a substantial gas swap agreement, marking a significant milestone in their bilateral relations. Under this agreement, Iran will export up to 10 billion cubic meters (bcm) of natural gas to Iraq, while Turkmenistan will reciprocate with an equal volume of gas to Iran.
In addition to the gas swap, Iranian firms are set to construct a new 125-kilometer gas pipeline and three gas pressure booster stations in Turkmenistan. These infrastructure developments aim to increase annual gas deliveries to Iran to 40 bcm.
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The agreement was formally signed in Turkmenistan after extensive negotiations between Tehran and Ashgabat. Iranian Ambassador to Turkmenistan, Ali Mojtaba Rouzbehani, hailed the deal as a significant advancement in gas sector cooperation between the two nations. He also acknowledged the pivotal roles of late President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian in facilitating the agreement.