Saeed Tavakoli, Managing Director of the Iranian National Gas Company (NIGC), said the Iran-Turkey gas export contract will definitely be extended, adding that promoting a long-term energy agreement remains one of the company’s top priorities.
According to ILNA, Foreign Minister Tavakoli said Turkey continues to demand Iranian gas and that negotiations are underway to determine the amount, method and structure of contract renewal.
He said the current export agreement will be extended for several years beyond 2026, ensuring continued cooperation between the two neighboring countries.
Mr Tavakoli also highlighted recent challenges in the region’s gas market, saying the market is increasingly volatile, short-term and time-sensitive. He explained that increased U.S. LNG production, export restrictions in some countries, and pre-determined regional gas quotas have made the market more complex and competitive.
RHM/