Iran, Turkmenistan mull co-op in oil and gas field
By Aynur Jafarova
Iran and Turkmenistan have discussed the cooperation issues in the oil and gas field, the Turkmen government said on January 10.
The discussions were held during the meeting of a delegation headed by Iran's Deputy Oil Minister for International Affairs Ali Majedi at Turkmenistan's Foreign Ministry.
"The parties exchanged views on the future development of the Turkmen-Iranian relations, including cooperation in the oil and gas sphere," the Turkmen government said.
Iran and Turkmenistan have common land borders and are neighboring countries in the Caspian Sea. They have maintained relations since Turkmenistan gained independence from the Soviet Union in 1991. Iran was the first nation to recognize Turkmenistan as an independent state. Since then, the two countries have enjoyed good relations and have cooperated in economics, the infrastructure and energy sectors.
Tehran has the largest volume of trade turnover with Turkmenistan after Russia. The two countries' annual trade currently amounts to $4.2 billion. It is planned to further increase this figure up to $10 billion over five years.
Turkmenistan mainly exports natural gas, oil and petrochemical products, as well as textiles to Iran.
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