Iran Offers to Swap Oil, Gas with Turkmenistan

Iranian Oil Minister Bijan Namdar Zanganeh and visiting Turkmen Foreign Minister Rasit Meredow held talks on ways to boost cooperation between the two neighboring countries in various energy fields, including swap of crude oil and gas.

In the meeting in Tehran the two ministers exchanged views on a range of issues, including oil and gas markets in the Middle East.

According to Amir Hossein Zamaninia, the deputy oil minister for international and commercial affairs, the Iranian minister called for establishing long-term cooperation between the two countries in various energy fields, including swap of oil and gas and joint exports of gas.

In an earlier meeting with Meredow, Iranian President Hassan Rouhani underlined the great importance the Islamic Republic attaches to its relations with neighboring Turkmenistan, calling for further efforts to boost ties at various bilateral, regional and international levels.

Back in March 2015, Iran and Turkmenistan signed 17 cooperation documents in economic, cultural, political, legal, scientific, and technological fields during a visit to Ashgabat by Iranian President Hassan Rouhani. The Iranian chief executive announced at the time that Iran and Turkmenistan have decided to increase the total value of their economic exchanges from the then $3.7 billion to $60 billion in a ten-year period.

(Source: Tasnim, under Creative Commons licence)

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