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.