Iran and Turkmenistan discussed expanding oil, gas sector cooperation

By Alimat Aliyeva

At a meeting in Ashgabat between the President of Turkmenistan Serdar Berdimuhamedov, Iranian Energy Minister Abbas Aliabadi, and Chairman of the Central Bank Mohammad Reza Farzin, the possibilities of expanding bilateral cooperation between the two countries in the oil and gas sector, as well as diversifying energy supplies to global markets, were discussed, Azernews reports.

The meeting highlighted the opportunity for both parties to further deepen their dialogue in the oil and gas sector. The importance of regular exchanges of views on identifying and applying new forms and methods of collaboration in this area was emphasized. It was also noted that trade and economic cooperation is a key priority in the bilateral relations between the countries and plays a significant role in Turkmenistan's foreign trade turnover.

Additionally, the two nations have established a multi-faceted and effective partnership in various sectors, including political, diplomatic, financial, economic, energy, agriculture, transport, cultural, and humanitarian fields.

As a result of the meeting, Iran and Turkmenistan signed four joint documents on cooperation, further solidifying their collaborative efforts.

In related news, Iranian Oil Minister Mohsen Paknejad announced on December 5 that Iran is in negotiations with both Turkmenistan and Azerbaijan regarding a gas swap agreement, which would enhance regional energy cooperation and facilitate the efficient distribution of natural gas between the three nations.

This growing partnership between Iran and Turkmenistan reflects the evolving energy dynamics in the region and underscores the strategic importance of Central Asia in global energy markets. With the signing of additional agreements and the continued development of bilateral cooperation, the two countries are poised to play a central role in shaping the future of regional energy security.