Turkmenistan and Iraq Agree Gas Deal via Iran, 10 NOV

 Turkmenistan and Iraq Agree Gas Deal via Iran

Turkmenistan and Iraq signed a deal in Ashgabat on Wednesday to supply 9 billion cubic meters of natural gas annually for five years.

The gas will be transported through Iran in a swap arrangement, according to state-run Turkmengaz.

Iraq’s Ministry of Electricity confirms the meeting but provides no information about the duration or volume.

The complete statement from Turkmengaz:

Representatives of the State Concern Türkmengaz met with a delegation from the Republic of Iraq, led by Minister of Electricity Ziad Ali Fadel, in Ashgabat on Wednesday.

During the meeting, the parties discussed issues related to the organization of Turkmen natural gas supplies to Iraq via Iran under the SWAP scheme.

During the meeting, the parties discussed the legal, commercial, financial, and organizational aspects of their future joint activities in the gas industry. They were able to reach an agreement and signed a Protocol that outlined the main commercial terms of the deal. As per the agreement, Turkmen natural gas will be sold to the Republic of Iraq for a period of 5 years. A total of 9 billion cubic meters of gas will be transported annually through Iran to Iraq under the SWAP scheme.

In October of this year, the State Concern “Turkmengas” and the Ministry of Electricity of the Republic of Iraq signed a Memorandum of Understanding. This move is part of Turkmenistan’s efforts to diversify the supply of natural gas to world markets. With its abundant reserves of natural gas, Turkmenistan is actively pursuing international proposals in the energy sector. This includes participation in significant energy projects like the Turkmenistan-China, Turkmenistan-Iran, Turkmenistan-Afghanistan-Pakistan-India gas pipelines, as well as the development of high-voltage power transmission lines from Turkmenistan to Iran and Afghanistan.

Ashgabat is currently considering several states from the Far, Middle, and Middle East, South, and Southeast Asia as promising partners who are showing keen interest in collaborating with Turkmenistan in the energy sector. One of these potential partners is the Republic of Iraq. It is worth noting that Turkmenistan has established itself as a responsible and trustworthy partner over the years of working with foreign states and companies, by carrying out joint activities based on the principles of mutual trust, respect, good neighborliness, and transparency.