Tehran, Ankara to hold new round of oil, gas talks

Oil&Gas Materials 3 March 2013 12:53 (UTC +04:00)

Azerbaijan, Baku, Mar.3/ Trend F.Milad‎‏/

Iran and Turkey will hold a new round of oil and gas talks in Tehran in the coming days.

The negotiations will be held at the sidelines of the 3rd meeting of the ECO energy and oil ministers, PANA News Agency reported.

Iran plans to increase its gas transfer capacity to Turkey and European countries up to 50 million cubic meters per day.

Iran's Deputy Oil Minister Javad Owji said on December 30 that the country's gas exports to Turkey have hit a new record high and surpassed 31 million cubic meters (mcm).

The official added that under an agreement between Tehran and Ankara, the Islamic Republic should export up to 30 mcm of gas daily to its northwestern neighbor.

In 1996, Iran and Turkey signed a 25 year agreement to supply 10 billion cubic meters of gas to Turkey annually.

According to the statistic data of the Turkish State Pipeline Company Botas, Turkey imported 39.7 billion cubic meters of gas from Iran in 2011.

Ministers of energy and oil from the 10-member Economic Cooperation Organization (ECO) will hold a meeting in Iran during March 4-6, the Mehr News Agency reported.

The 3rd meeting of the ECO energy and oil ministers will focus on expanding regional cooperation and exchanging experiences, as well as promoting free trade in the field of energy.

ECO is an intergovernmental regional organization established in 1985 by Iran, Pakistan and Turkey, which provides a platform to promote economic, technical and cultural cooperation among member states.

The organization was expanded in 1992 to include seven new members, including Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.