Iran, Turkmenistan Agree to Continue Gas Cooperation for 5 Years

Managing Director of the National Iranian Gas Company (NIGC) Hamidreza Araqi announced enhancement of Tehran-Ashgabat ties on Saturday, saying the two countries have agreed to continue cooperation in gas trade for at least the next 5 years. 

Araqi visited Turkmenistan last week to meet with Turkmen officials and discuss gas cooperation with them, besides exploring avenues for furthering energy ties between the two countries. 

He said NIGC and Türkmengaz have reached an understanding for export and swap of natural gas between Iran and Turkmenistan as well as sketching future relations between the two companies. 

The official said the two companies will form up a joint committee to consider the disputed topics in the gas deal between the two countries. 

He said the relationship between Iran and Turkmenistan is based on the good neighbor policy, adding the two countries have agreed to observe terms of the deal for at least the next 5 years.