SEPT. 30 2014 (The Conway Bulletin) – Despite statements earlier this year to the contrary, Iran will increase gas exports from Turkmenistan to make up for a shortfall in its own production.
Reuters quoted the Shana Iranian news agency as quoting Hamid-Reza Araqi, Iran’s oil minister, as saying, that imports would rise in accordance to a long term contract between the two countries.
“Iran has a long-term contract with Turkmenistan, based on which the volume of gas exports increases,” he said.
Western sanctions aims at hampering Iran’s alleged development of its nuclear weapons programme have also slowed its gas production, mainly based in the south of the country. And so it has looked to neighbouring Turkmenistan to make up the shortfall. Over the past few years, Turkmenistan has supplied 90% of Iran’s gas imports.
News that Turkmenistan will further increase its gas exports to Iran will again cement its position as one of the region’s leading gas suppliers.
ENDS
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(News report from Issue No. 202, published on Oct. 1 2014)