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Iran is counting on the renewal of the contract with Turkey to export gas

The authorities of Iran and Turkey in recent days has conducted video talks to discuss this issue.

Teheran, 20 Oct – IA Neftegaz.RU. National Iranian gas company (NIGC) has proposed Turkey to extend gas supply contract between the 2me countries for the period after 2025 and is waiting for an official reply.
This was announced by managing Director of the NIGC H. Montazer-Torbati.

Managing Director of NIGC H. Montazer-Torbati expressed hope that Iran and Turkey will be able to start serious negotiations about prolongation of the contract on gas exports after the relative easing of the situation related to pandemic coronavirus.

The authorities of Iran and Turkey in recent days has conducted video talks to discuss this issue.

The Iranian side at the moment, awaiting a response of Turkey, while a contract is still a lot.

The supply of Iran’s natural gas to Turkey in October 2020 increased slightly compared to the same period of 2019 (YoY), despite a 3-month suspension of the exports due to the explosion of the pipeline on Turkish territory at the end of March 2020

In 2018, Erdogan said that Turkey does not intend to abandon Iranian gas despite US sanctions.

But since then the situation has changed dramatically.

In particular, it was completed Turkish stream, Turkey has significantly increased its imports of liquefied natural gas and discovered a major gas field on the Black sea shelf.

This has allowed Turkey to start with Russia negotiations on reducing the price of imported gas.

Apparently the Iranian authorities will also have to make allowances Tayyip Erdogan.

H. Montazer-Torbati said Iran is also considering a further expansion of its gas export to Iraq in the summer of 2020, increased its imports of Iranian raw materials higher than the planned volumes.

A trip to the head of the Central Bank of Iran A. Hemmati in Baghdad can solve the problems with Iraq owed payments for the supply of Iranian gas.

In addition, Iran still hopes that Pakistan will take steps to settle the dispute on this issue, pledging to do their part of the deal.

The issue of export of gas to Pakistan is solved with the diplomatic and legal points of view.

All the documents and proof ready, but the Iranian side has yet to make a conclusion for submission to arbitration.

Iraq and Turkey are the main importers of Iranian gas.

However, to increase export destinations, it was decided in 2014 to build a pipeline to Pakistan.

The authorities of Iran and Pakistan have repeatedly stressed the importance of IHL World, its section of the Iran gas pipeline has been built, however, on the Pakistani side began procrastinating – affected by US pressure.

However, in September 2019 Interstate Gas Systems and Iranian Gas Company signed a new agreement on the gas pipeline in the World, according to which Pakistan is obliged to build its section of the pipeline to 2024

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