Headlines

    Turkmenistan, Iraq forge path for gas supply deal through SWAP agreement

    Shorouk Express

    ASHGABAT, Turkmenistan, March 6. Turkmen
    President Serdar Berdimuhamedov and Iraqi Prime Minister Mohammed
    Shia’ Al Sudani discussed issues related to the supply of Turkmen
    gas via a SWAP agreement through Iran during a phone conversation,
    Trend reports.

    Moreover, it was noted that Turkmenistan remains committed to
    its policy of exporting energy resources to global markets through
    diversification. In this regard, it was highlighted that two years
    ago, Turkmenistan and Iraq began cooperation in the gas sector by
    reaching an agreement on the annual supply of 10 bcm of Turkmen
    natural gas to Iraq via a SWAP agreement through neighboring
    Iran.

    Iraqi Prime Minister Mohammed Shia’ Al-Sudani reaffirmed his
    country’s readiness to further strengthen cooperation in the energy
    sector and stated that the necessary work is already underway to
    facilitate this process.

    On November 8, 2023, a meeting was held in Ashgabat between
    representatives of “Turkmengaz” and an Iraqi. Following the
    meeting, a protocol was signed outlining the key commercial terms
    of an agreement under which Turkmenistan will supply Iraq with 10
    bcm of gas annually for five years via a swap agreement through
    Iran.

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