Turkey to Invest in Iran’s Gas Fields

In a meeting with Iranian Oil Minister Javad Owji in Tehran on Thursday, Alparslan Bayraktar called for closer bilateral ties in all fields, especially in the energy industry.

Turkey is eagerly interested in investment in the Iranian gas fields, he added, noting that his country is determined to extend the 30-year gas contract with Iran which will expire by the end of 2026.

Bayraktar also stated that Turkey and Iran are pursuing to achieve the goal of $30 billion annual trade exchanges, highlighting the share of energy in this regard.

Gas is a vital source of energy for Turkey which is used in the household, industrial and production sectors, he added.

Turkey is pursuing the diversification of routes for gas imports, while Iran is the most important and major supplier of gas to Turkey, the minister underscored.

Bayraktar then submitted a list of Turkish companies which are eager to engage in Iran’s oil projects.

The investment of the Turkish companies in the development of Iranian gas fields and renovation of infrastructures for the transmission of gas were of the most important topics discussed in the meeting.