Iran to Discuss Gas Swap with Turkmenistan

Iran and Turkmenistan will discuss the issues of gas swaps and barter of gas for oil products in their next meeting that is scheduled to be held in next two weeks in Ashkhabad, managing director of the National Iranian Gas Export Company (NIGEC), Hossein Bidarmaghz said on Wednesday.

Referring to importing 14 billion cubic meters of gas per year from the neighboring country, he said Ashkhabad had expressed readiness to increase the volume to 20 million cubic meters annually, Iran’s SHANA news agency reported.

“Regarding that Iran and Turkmenistan are among the holders of the largest gas reserves in the world, so both of them are interested in signing long term gas contacts“, he stated.

He went on to say that, the two countries were involved in negotiations on swap, transit and exports noting the results would be announced after examining proposals offered by both sides.

In connection to gas exports to India, he said there are different options on the table including land and sea routes that are under consideration.

On gas trade with China, the official noted that bilateral negotiations on gas exports to China were underway both in the form of LNG and through gas pipeline.

[mappress]

Source: NIGC, October 19, 2011