Iran expects growth of Turkmen gas imports under swap deal
In the previous Iranian calendar year 1401 (ended March 20, 2023), Iran registered "massive volumes" of gas swaps, showing an increase of 358% compared to the corresponding period of the last year, head of the National Iranian Gas Company (NIGC) Majid Chegeni said in an interview to Fars news agency.
NIGC is importing natural gas from Turkmenistan as part of a trilateral swap deal with Azerbaijan's SOCAR. “By increasing natural gas trade with Turkmenistan, NIGC has been able to restore gas imports from Turkmenistan into the country,” Chegeni said.
According to him, it is expected that the volume of gas imported from Turkmenistan under the gas swap in 2023 will grow by more than 70% compared to the last year.
Swap supplies imply that Turkmenistan supplies gas to Iran, after which Iran exports a similar amount of blue fuel to Azerbaijan. Part of the transit gas remains with Iran as a payment for the swap.
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