Iran negotiating gas swap with Azerbaijan, Turkmenistan

BAKU. KAZINFORM An Iranian private company is negotiating with Azerbaijan and Turkmenistan for gas swap, Azizollah Ramazani, director of the International Affairs Department at the National Iranian Gas Company (NIGC), said.

Serious talks are underway for gas swap between Turkmenistan and Azerbaijan through a private Iranian company, SHANA news agency reported Aug. 2.

He did not unveil further details.

Iran has already announced readiness for natural gas swap projects with Russia, Turkmenistan, and Azerbaijan.

It was earlier announced that Iran and Azerbaijan have agreed to increase the volume of gas swap. The two countries have gas swap infrastructure via which Azerbaijan supplies its fuel to Iran's northern provinces. Iran, for its part, ensures the gas demand of Nakhchivan Autonomous Republic.

Elsewhere in his remarks Ramazani said that talks are underway with Oman, Kuwait and the UAE for gas export, in order to increase Tehran’s share from global gas market.

Studies are on the agenda to take share in the LNG markets in Turkey, Azerbaijan, Afghanistan, India and China as well as eastern and western Europe and Southeast Asia, Ramazani added.

The Islamic Republic holds 34 trillion cubic meters of proven gas reserves, sharing 18.2 percent of total global gas reserves, which puts the country in the top of the world's gas holders list, Trend reported.