CEO of the National Iranian Gas Company (NIGC) Saeed Tavakoli said on Sunday that Iran’s policy is to pursue long-term energy contracts with major partners as he insisted that renewing the current gas export deal with Turkey is one of the main priorities of the Iranian Oil Ministry.
Tavakoli said that The Turkish side is definitely interested in Iranian gas, adding that negotiations on volumes and mechanisms for future exports are ongoing.
“Turkey is definitely seeking to purchase Iranian gas, and Iran is pursuing contract renewal based on (the volume of) the Turkish demand and the talks that have been conducted so far,” he was quoted as saying by the ILNA news agency.
The NIGC chief expressed hope that the gas supply contract with Turkey could be extended for several years in 2026.
Iran has been supplying around 10 billion cubic meters of gas per year to Turkey under a 25-year agreement that was signed in 2001.
However, Turkey has been asking for increased supplies due to a rising demand for energy in the country’s household and manufacturing sectors.
Ankara has submitted similar requests to Russia and Azerbaijan, its two other gas suppliers, while it is investing billions of dollars to develop a gas filed found in the Black Sea in 2020.
Iran and Turkey agreed in July 2022 to start negotiations on a new gas exports deal.
Tavakoli, who also serves as a deputy oil minister, noted that the international gas market has become more volatile due to rising US LNG production and limited regional gas supplies, making export contracts shorter in duration.
Press TV