Turkey plans to increase Iranian gas imports, boost energy ties
The state-owned energy companies of Iran and Turkey sign agreements to coordinate plans on expanding operational activities regarding pipelines connecting the countries and increasing Turkey's imports of Iranian natural gas.
Iran and Turkey signed agreements that aim to expand ties between the countries regarding the oil and gas industry and set to increase Iran's gas exports to Turkey, which first started back in 2001.
Following a meeting between the Head of the Dispatching Department at Irans National Iranian Gas Company (NIGC) Mohammadreza Julaee and representatives of Turkish state-owned crude oil and natural gas pipelines BOTAS, the two parties said that new agreements will boost within the next 6 months both country's coordination on technical and operative levels regarding Turkey's imports of gas from the Islamic Republic.
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According to Julaee, the agreed-upon plans will include a broad range of operational projects on the pipelines connecting both countries, such as maintenance and repair, cathodic protection maintenance, in addition to renovating a compressor station at the Bazargan border crossing.
“Iran is known as a reliable source of gas supplies across the world. So we should recognize the importance of this position and rise to its challenges.” Julaee said, noting that the gas industry in Iran is rapidly growing.
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It's noteworthy that Iran has the second largest proven reserves of natural gas in the world, following Russia, with 991.6 trillion cubic feet of gas, which attracts a large number of international energy companies to explore the country's gas industry, however, Iran mainly produces the commodity to supply its domestic demands.
Back in July, Russian energy giant Gazprom and the National Iranian Oil Company signed a memorandum that locked in on strategic cooperation between the two countries, through which the firms mutually agreed on the possibility of the development of Iranian oil fields, the implementation of liquefied natural gas (LNG) projects, and the construction of gas pipelines.
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That memorandum included Moscow investing $40 billion in developing the Kish gas field and the northern Fars oil field, increasing the production of the lower Fars gas field, and developing six Iranian oil fields.
In another step to expand cooperation between Iran and Russia in the energy sector, Russian Deputy Prime Minister Alexander Novak announced last August that Russia is planning to sign an agreement with Iran on swap oil and gas supplies by the end of 2022.
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