Iran and its northeastern neighbor Turkmenistan have signed an agreement to facilitate the sale of up to 10bcm/y (967mn cfd) of Turkmen gas to Iraq. Iraq ratified the deal last November, albeit with somewhat lower headline volumes of 9bcm/y (870mn cfd) over five years (MEES, 17 November 2023).
The deal would function as a swap agreement. Iran, which typically imports modest volumes of Turkmen gas for its northeastern region, would take additional volumes and pass on equivalent volumes to Iraq. Iran had a similar agreement to supply Turkmen gas to Azerbaijan but that fell apart earlier this year (MEES, 19 January). (CONTINUED - 211 WORDS)