According to the agreement which was initially signed by oil ministers of the involved countries on the sideline of the ongoing ECO Summit in Ashgabat, Turkmenistan will sell five to six million cubic meters of natural gas to Azerbaijan Republic each day.
This gas will be swapped to Azerbaijan through the soil of the Islamic Republic of Iran. Iran will get enough money from this deal to transfer its own natural gas to five Iranian provinces.
The contract which has no ending date will be implemented as of Dec 25, 2021.
Among economic benefits of the trilateral contract, is the strengthening of the regional cooperation to secure the nations’ interests.
According to this swap deal, Iran will get Turkmenistan’s exported gas at the joint border to use it for Iranian provinces and in return will deliver the same quantity of Iranian gas to Azerbaijan Republic at its border with Iran.
The 15th Economic Cooperation Organization (ECO) Summit opened in Ashgabat, Turkmenistan,on Sunday as the country serves as the rotating head of ECO.
Iran, Turkey, Pakistan, Afghanistan, Turkmenistan, Kyrgyzstan, Uzbekistan, Kazakhstan, Tajikistan, and Azerbaijan are ten members of the ECO.
These countries have broad economic privileges, especially in mining, oil and gas and tourism fields, which is a great advantage at the disposal of this important regional organization.
Iran, thanks to having shared borders with five members of ECO, and its special geographical position for connecting more ECO land locked countries to international waters, and the stationing of the ECO Permanent Secretariat Office in Tehran, plays pivotal role in that important economic organization.
1424
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