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Iran, Azerbaijan Agree to Increase Gas Swap Volume

Tehran and Baku have agreed to double the annual volume of Turkmenistan’s gas swap to the Republic of Azerbaijan through Iran from the current 2 billion cubic meters to 4 bcm annually
Iran, Azerbaijan Agree to Increase Gas Swap Volume
Iran, Azerbaijan Agree to Increase Gas Swap Volume

Tehran and Baku have signed a memorandum of understanding to increase the volume of gas swap from Turkmenistan to the Republic of Azerbaijan via Iran.
Iranian Oil Minister Javad Owji signed the MoU during a meeting with Azerbaijan’s Economic Minister Mikayil Jabbarov in Baku at the weekend, the Oil Ministry’s news agency Shana reported.
Iran, Azerbaijan and Turkmenistan had struck a deal last December to swap 1.5 to 2 billion cubic meters of Turkmen gas to Azerbaijan annually.
The deal, which was signed after a five-year suspension in Iran-Turkmenistan gas trade, will help ensure sustainable gas flow in Iran’s northeastern gas network and pave the way to turn Iran into an energy hub in the region.

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