Code: 622876 A

Currently Iran swaps about one million cubic meters of gas per day with Azerbaijan, Iran’s deputy oil minister Hamid Reza Araqi said.

Araqi, who heads the National Iranian Gas Company (NIGC), said that Iran swaps the volume with Azerbaijan to meet Nakhchivan Autonomous Republic’s demand, Trend correspondent reported.

Araqi added that Tehran is also swapping gas from Turkmenistan to Azerbaijan.

An Iranian company buys gas from Turkmenistan and sells it to Azerbaijan, he said, adding that the volume of the gas sold to Azerbaijan by the company stands at six million cubic meters per day.

The Islamic Republic holds around 34 trillion cubic meters of proven gas reserves, sharing 18 percent of total global gas reserves, which puts the country in the top of the world's gas holders list.

Iranian gas refineries processed 214 billion cubic meters (bcm) of sweet gas during the last fiscal year, ended March 20, 2018.

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