Tehran welcomes gas contract with Baku

Tehran welcomes gas contract with Baku

A tripartite contract on gas swap between Turkmenistan, Iran, and Azerbaijan could turn Iran into a regional transit center, Iranian President Ebrahim Raisi said.

According to Raisi, Iran has reached a number of agreements on cooperation with neighboring countries in transit and other fields and has signed contracts in this regard.

The president added that these documents are of great importance. Contracts with neighboring countries can contribute to economic development.

Raisi also stressed the importance of Iranian ports in trade with neighboring countries.

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). Implementation of the contract will begin on December 22, 2021, and daily 5-6 million cubic meters of gas will be swapped.