Iranian Petroleum Minister Javad Owji and the CEO of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev in a meeting in Tehran on Wednesday have considered preparations for the implementation of the tripartite agreement on gas swap between Turkmenistan, Iran and Azerbaijan.
Owji and Abdullayev discussed how Iran and Azerbaijan can boost their energy ties and improve cooperation in the Caspian Sea where major oil and gas reserves are located, the Iranian Petroleum Ministry’s news agency Shana reports.
The talks focused on the trilateral gas swap deal between Turkmenistan, Iran and Azerbaijan which is expected to go into effect in late December. The sides considered preparation for the implementation stages of the deal, according to the report.
The tripartite gas swap agreement was signed on November 28 in Turkmenistan’s capital Ashgabat on the sidelines of the 15th Summit of Economic Cooperation Organization.
Under the agreement, up to 2 billion cubic meters of gas will be annually transported from Turkmenistan to Azerbaijan through Iran.