The Managing Director of the National Iranian Gas Export Company, Hossein Bidarmaghz, says Iran and Turkmenistan are holding talks on swapping natural gas for oil products, Press TV reports on Thursday.
“It is now possible for Iran to receive natural gas at its border with Turkmenistan and deliver crude or oil products in exchange,” Bidarmaghz said on Wednesday.
Stating that the Central Asian country currently exports about 14 billion cubic meters of gas a year to Iran, Bidarmaghz said Ashgabat has expressed its willingness to increase the amount to 20 billion cubic meters per annum.
Describing Iran and Turkmenistan as the major holder of gas reserves in the world, the Iranian official said both countries were interested in signing long-term gas contracts.
Iran and Turkmenistan hold talks on gas swap
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