Iran to Purchase 10 Billion Cubic Meters of Turkmen Natural Gas Annually

Turkmenistan and Iran signed a contract on July 3 for the delivery of 10 billion cubic meters of Turkmen natural gas per year, which Iran will then ship to Iraq. Turkmenistan's Foreign Ministry announced the deal but did not say what price Iran would pay for the gas. The ministry's statement said Iranian companies will construct a new 125-kilometer pipeline between Iran and Turkmenistan to expand the Central Asian country's delivery capacity. The ministry said Turkmenistan, whose economy is heavily dependent on the export of natural gas, also plans…