Azerbaijan, Baku, March 4/ Trend F.Milad
Iran and turkey will sign a new gas contract despite western sanctions imposed on Iran, the ISNA News Agency reported.
Based on the contract, Tehran will increase its gas exports to Ankara by 5 million cubic meters per day.
The contract is likely to be signed at the sidelines of the 3rd meeting of the Economic Cooperation Organization (ECO) energy and oil ministers.
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.
In 1996, Iran and Turkey signed a 25 year agreement to supply 10 billion cubic meters of gas to Turkey annually.
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).