Iran confirms plan to extend gas export contract with Turkey

Saeed Tavakoli, Managing Director of the National Iranian Gas Company (NIGC), said that Iran’s gas export contract with Turkey will definitely be extended, adding that pursuing long-term energy agreements remains one of the company’s top priorities.

According to ILNA, Tavakoli stated that Turkey continues to demand Iranian gas, and negotiations are underway to determine the volume, method, and mechanism of the contract renewal.

He noted that the current export contract will be extended for several years beyond 2026, ensuring continued cooperation between the two neighbors.

Tavakoli also highlighted recent challenges in the regional gas market, describing it as increasingly volatile, short-term, and time-sensitive. He explained that the rise in US LNG production, export restrictions in some countries, and pre-determined regional gas allocations have made the market more complex and competitive./mehr