Iran, Turkmenistan to Boost Cooperation in Oil, Gas Sector

Iran and Turkmenistan have reached agreement on boosting cooperation in oil and gas sector, Shana news agency has reported.

National Iranian Gas Company’s managing director said that negotiations took place in the framework of previous contracts. He added that Iranian gas imports from Turkmenistan are going on under a long-term contract between the two countries.

Iran and Turkmenistan signed a 25-year gas trade contract in 1997 under which a 200 kilometers pipeline was constructed for gas imports from the neighboring country.

Meanwhile, Shana also reported that total gas production in Iran has hit 120 billion cubic meters since the beginning of new Iranian calendar year on 20 March 2012. Gas production stands at 550 to 600 million cubic meters per day now.