TEHRAN - Iranian Minister of Petroleum Javad Owji has discussed extension of the gas contract and energy trade in a meeting with the Turkish energy and economic officials.
Javad Owji, who has traveled to Ankara at the head of a delegation, met and talked with Turkish Energy and Economy Minister Fatih Dönmez and the head of the Central Bank of Turkey Nureddin Nebati, and major companies active in the energy sector of this country.
Owji discussed with Turkish officials the extension of Iran’s gas export contract to Turkey and the principles of which are agreed upon by both parties, and it was decided to form a joint working group to work on the issue of contract extension.
The current 25-year contract for the export of Iranian gas to Turkey will expire in 2026.
In this trip, the two sides discussed increasing the amount of Iran’s gas exports to Turkey and building a new gas export pipeline to ramp up the capacity of gas transmission through this route.
During the visit of the Iranian petroleum minister to Turkey, two scenarios of increasing gas exports through a new contract or in the form of an extension of the previous contract were discussed.
In addition, there was a discussion and exchange of views about the reduction of the import tariff of petrochemical products from Iran to Turkey.
The other focal points of the negotiations in this short and intensive trip were inviting Turkish companies and investors to invest in projects in the upstream and downstream sectors of Iran’s energy sector, unveiling and explaining new investment contracts in the energy, oil and gas sector and trade in petroleum products.