Iraq has expressed interest in gas supplies from Turkmenistan to Iraq under the SWAP scheme (on a reimbursable basis - Daryo) through the territory of neighbouring Iran on the basis of long-term contracts for at least five years.
The Ministry of Foreign Affairs of Turkmenistan reports that the head of the state concern "Turkmengaz" Maksat Babaev paid a working visit to Baghdad from 5 to 8 October. As a result of the talks, a Memorandum of cooperation was signed with the Iraqi Ministry of Electricity.
The parties discussed legal, commercial, financial and organisational conditions for future joint activities in the gas sector. "The Iraqi side will be ready to accept Turkmen natural gas in the volume of 10bn cubic metres annually".
According to the press release, the talks will continue in Ashgabat on 25-27 October 2023 within the framework of the International Exhibition and Conference "Oil and Gas of Turkmenistan".
Experts told Daryo that Turkmen gas could flow to Iraq in transit through Iran, which has previously said it is ready to re-export to new markets, at a rate of up to 15bn cubic metres of gas annualy.
Azerbaijan has been receiving natural gas from Turkmenistan through Iran since 2022 in a similar arrangement.
Credits: Eziz Boyarov
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