Iran, Turkey to Sign New Gas Deal

Iran is expected to sign a new agreement with Turkey to increase the volume of natural gas exports to its north-western neighbour by five million cubic meters (mcm) per day, Press TV has reported.

The new deal is likely to be inked on the sidelines of the ministerial meeting of the Economic Cooperation Organization (ECO), scheduled to begin in Tehran on Monday. Following the agreement, Iran’s natural gas exports to Turkey will reach 30-35 mcm per day, Press TV said. 

In December 2012, Turkish Energy Minister Taner Yildiz said his country will continue buying natural gas from Iran despite financial sanctions imposed by the West. 

Iran’s natural gas is of crucial importance to Turkey, as it uses a significant portion of imported Iranian gas to generate electricity.