Oil Minister:

Ankara(IP)- Iran's oil minister announced the extension of the gas contract and the increase in the volume of the country's gas exports to Türkiye.

Iran PressAsia: According to Iran Press news agency; during his trip to Ankara, the capital of Türkiye, Iranian Oil Minister Javad Owji met and discussed with Fatih Dönmez, Turkish Minister of Energy and Natural Resources, Nureddin Nebati, the Minister of Finance and Treasury, and Şahap Kavcıoğlu, Governor of the Central Bank of the Republic of Türkiye.

Owji named the extension of the contract, increasing the volume of gas exports and investment in the gas sector, oil products, and petrochemical industries as the most important goals of the trip and said: "The contract for the export of 30 million cubic meters of Iranian gas per day and nearly 10 billion cubic meters of gas per year to Türkiye was reached by the ministers of the two countries and according to the current term of this contract  which is valid by 2026 and the increase in the capacity of the pipeline and the creation of the necessary conditions at the merchant point, another 5 million cubic meters on daily baisis should be added to Iran's gas export capacity to Türkiye and gas transit from Türkiye."

Iran's oil minister also pointed to the remarkable history of export and import volume and clearing of petroleum products, including petrochemicals, with Türkiye and added: "Last year, the volume of exports of petrochemical products of the Islamic Republic of Iran to most countries of the world, including Türkiye, reached 12.5 billion dollars. By raising the issue of the import tariff of petrochemical products with the Turkish authorities, it was decided that the reduction of the import tariff of petrochemical products to Türkiye should be discussed and decided by the government of the country."

Emphasizing Iran's welcome and lack of restrictions to attract investment in fields development and construction of transmission lines, pressure booster stations, and LNG and petrochemical complexes, Owji said the financial burden targeted by the 13th government of Iran in the oil and gas investment sector was close to 250 billion dollars and added: "Good discussions and agreements were made with Turkish authorities and large companies about attracting investment for priority energy security projects, increasing production and building oil and gas complexes."


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