Azerbaijan to Expand Ties with Iran

Azerbaijan is ready to produce 54 billion cubic meters of gas per year and export it to Iran until 2020.

The Ministry of Industry & Energy of Azerbaijan has issued a number of statements about the prospects of the national gas industry, Iran’s SHANA news agency reported.

According to the Ministry, Deputy Industry & Energy Minister Natig Abbasov stated that by 2020 the domestic gas production will increase up to 54 billion cubic meters per year.

“Azerbaijan is exporting gas to Russia, Iran, Turkey and Georgia,” Abbasov said at a meeting with representatives of the Ministry of Petroleum and the National Iranian Gas Company.

At the meeting, the sides discussed issues of mutual interest.

At present, Iran import one million cubic meters of gas from Azerbaijan per day and swap it to Nakhchivan Republic.

According to a gas agreement between Iran and Azerbaijan, it was agreed that the capacity of gas pipeline between two countries are supposed to be increased and the current gas swap amount reach to 2 million cubic meters per day in the first phase, and 5 million cubic meters per day in the second phase.