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Gas swapping is starting point for energy cooperation in region - Iran’s Energy Committee

Oil&Gas Materials 6 January 2022 15:09 (UTC +04:00)
Gas swapping is starting point for energy cooperation in region - Iran’s Energy Committee

BAKU, Azerbaijan, Jan. 6

By Elnur Baghishov – Trend:

The implementation of the contract on the swap of Turkmen gas to Azerbaijan through Iran is a starting point for cooperation in the energy sector in the region, Head of the Energy Committee of the Iranian Chamber of Commerce, Industry, Mines and Agriculture (ICCIMA) Hamidreza Salehi told Trend.

According to Salehi, as it is known, Iran's fee in connection with the swap of Turkmen gas to Azerbaijan via Iran is about 5 percent. Thus, if 2 billion cubic meters of gas are swapped per year, Iran's swap fee will be 100 million cubic meters.

The chairman added that Iran has a unique infrastructure for the transportation of gas and other energy carriers. It is possible to implement big plans in cooperation with neighboring countries in the energy sector.

The official also pointed out that Iran should have a plan to develop regional cooperation in the energy sector and create conditions for the export of its energy carriers.

On November 28, 2021, a tripartite contract on the swapping of 1.5-2 billion cubic meters of Turkmen gas to Azerbaijan through Iran per year was signed between Iran and Azerbaijan in Ashgabat, Turkmenistan, on the sidelines of the 15th Summit of the Economic Cooperation Organization (ECO).

The implementation of the contract began on January 1, 2022. As a result of the contract, the reduction of gas pressure in the northern and north-eastern regions of Iran will be prevented.

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