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Will the Iran-Turkey gas contract be extended?

Oil&Gas Materials 18 November 2020 12:52 (UTC +04:00)
Will the Iran-Turkey gas contract be extended?

TEHRAN, Iran, Nov. 18

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A spokesman for the Union of Exporters of Petroleum, Gas and Petrochemical Products of Iran Seyyed Hamid Hosseini said that if Turkey succeeds in its plans for gas export and transit, it will definitely continue to buy Iranian gas, Trend reports via ILNA.

"Iran's gas export contract to Turkey is a 25-year agreement, which is still a few years away, but the question is that will this contract be extended or not? This depends on the needs of Turkey,” said Hosseini.

"Ankara is looking to be an energy hub in the region and to re-export gas from Iran, Russia, Azerbaijan and even Iraq, to Europe,” he said. “As a result, the volume of gas from recent discoveries in this country does not meet the defined goals.”

He went on to say that Iran certainly has advantages that can encourage Turkey to continue purchasing its gas.

Hosseini reminded that Iran is not worried about the gas contract, since because parts of Turkey survive on Iranian gas.

"The gas contract will likely be extended,” he said.

According to ILNA, last week, Hassan Montazer Torbati, CEO of the National Gas Company of Iran expressed hope for the extension of the gas contract with Turkey.

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