Iran, Turkmenistan Agree on Gas Barter

Iran has agreed to export goods to Turkmenistan in exchange for some of the natural gas it purchases from its northern neighbour, Bloomberg reported citing a report from state-run Iranian Students News Agency.

Iran buys about $3 billion of natural gas from Turkmenistan a year, Abdol-Hamid Asadian, head of the Trade Promotion Organisation’s bureau for Europe and Americas, was quoted as saying by the state-run Iranian Students News Agency. The report didn’t provide details of the arrangement, Bloomberg said.

Iran imports about 18 million cubic meters of gas a day from Turkmenistan, and as much as 30 million cubic meters in winter months, state-run media reported in November, Bloomberg added.