Search Site

Honda shares soar 16%

The surge came after the auto giant announced a $7bn buyback.

Mubadala acquires stakes from GHH

It acquired an 80 percent stake in Global Medical Supply Chain.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Baghdad, Tehran in talks to import gas from Turkmenistan

Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan. Pic: mehrnews
  • The pact provides for supplying Iraq with 51 million M3 per day, Iraqi minister of electricity Luay Al-Khatteeb said
  • He further noted that the Iraqi Ministry of Electricity has fulfilled all gas-related payments to Iran

Tehran, Iran – Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with the Iraqi Minister of Electricity Luay Al-Khatteeb revealing that discussions are underway to utilize Iran’s extensive network for the transportation of Turkmenistan’s gas.

Highlighting the challenges in establishing direct lines for gas transportation from Turkmenistan to Iraq, the minister stated, “We are negotiating with the Iranian side to use their network to transport these quantities, as these 20 million from Turkmenistan will provide continuous supply next summer,” as reported by the Iraqi News Agency.

Underlining an existing agreement with Iran that spans several years, the minister explained, “The agreement provides for supplying Iraq with 51 million M3 per day, and this amount covers our needs if the flow is stabilized by them. The 20 million M3 from Turkmenistan can be utilized when reducing the flow from the Iranian side.”

He further noted that the Iraqi Ministry of Electricity has fulfilled all gas-related payments to Iran, depositing them into a dedicated account at the Iraqi Trade Bank. However, due to international sanctions, the payment process has faced delays, leading to the exchange of gas for Iraqi black oil in accordance with a previously established agreement.

Discussing the challenges faced during winter, the minister mentioned that the Iranian side had decreased gas quantities in the last two months. This reduction was attributed to cold weather, heightened domestic demand, and maintenance activities on pipelines. Despite these challenges, the minister expressed hope for a return to natural gas flows with the onset of the holy month of Ramadan, anticipating a significant improvement in processing hours.