Iran and Turkmenistan stress bilateral oil and gas cooperation

Jul 25, 2006 02:00 AM

In a meeting between Iranian oil minister Kazem Vaziri-Hamaneh and his Turkmen counterpart the expansion of cooperation in oil and gas was discussed. The two sides agreed to increase Turkmenistan's gas exports to Iran from the current eight bn cm to a minimum of 14 bn cm annually.
They also stressed on the increase of the oil swap of Turkmenistan oil via Iran's northern ports which currently stands at 40,000 barrels daily.

Hamaneh also called for greater participation of Iranian companies in the oil exploration and discovery projects in Turkmenistan. Iranian companies have solid expertise in oil exploration and they are ready to share their knowledge with Turkmenistan, he added.
The two sides also agreed to further cooperate in production exchange of oil derivatives Iran, which is the second biggest buyer of Turkmen natural gas, electricity, liquefied gas and polypropylene after Russia, is interested in buying more gas from Turkmenistan, which sold 5.8 bn cm of gas to Iran in 2005.

Iran has plans to buy more than 13 bn cm of gas from Turkmenistan. The two countries trade exchange amounted to $ 1 bn in 2005.
Iranian President Mahmoud Ahmadinejad was formally greeted in Ashgabat by his Turkmen counterpart Saparmurat Niyazov. Ahmadinejad arrived on a two day official visit at the head of a high-ranking delegation.

During Ahmadinejad's stay, Iran-Turkmenistan economic commission is to meet and some documents on bilateral cooperation signed. Also, Bajgiran-Hooman border terminal will be inaugurated and Iran's economic exhibition will get underway in the Turkmen capital.
The Iranian ministers of foreign affairs, commerce, energy and oil are accompanying the Iranian president on his visit to this Central Asian republic.

Source: Trend
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