Araqi said the contract is for six-months and a private company will undertake financing a percentage of the swap cost.
He added that on the average, three to six million cubic meters of gas will be daily received from Turkmenistan and delivered to Azerbaijan.
The Iranian official said within the six month period, one to three billion cubic meters gas will be swapped.
He noted that implementation of the agreement will earn benefits for all the four parties and in case of its success, it will be continued to be in force.
Following commissioning of the gas swap project, Iran will cooperate with the neighbors in macro policies and mutual interests have been defined for the neighbors.
“Under the deal, we will receive more volume of gas from Turkmenistan in the winter season and deliver the gas to Azerbaijan in the hot season of the year.”