Today in the Turkmen capital a meeting was held between representatives of the State Concern «Türkmengaz» and the delegation of the Republic of Iraq led by the Minister of Electricity Ziad Ali Fadel,

During the meeting, a representative of the Iraqi government expressed his country’s readiness to further develop mutually beneficial relations with Turkmenistan, which has great potential in the energy sector.

In this context, the parties considered issues related to the organization of supplies of Turkmen natural gas to Iraq under the SWAP scheme through the territory of the neighbouring Islamic Republic of Iran. In addition, the legal, commercial, financial, and organizational conditions for future joint activities in the gas industry were discussed in detail.

As you know, a Memorandum of Understanding was previously signed between the State Concern «Türkmengaz» and the Ministry of Electricity of the Republic of Iraq.

It should be noted that throughout the entire period of its independence, neutral Turkmenistan has pursued an open domestic and foreign policy in all spheres of life of the state and society. At the same time, our country, under the leadership of President Serdar Berdimuhamedov, is confidently following the path of implementing large-scale and long-term national programs aimed at strengthening the foundations of the state structure, creating a diversified economic system, and solving important social problems.

It should be especially emphasized that at the initiative of the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Hero-Arkadag, a fundamentally new concept of international energy cooperation was created, the main principle of which is to ensure equal rights and opportunities, as well as respect for the interests of producers, transit countries and consumers of energy in the world markets.

Turkmenistan's internationally significant proposals in the energy sector have received and continue to receive their practical implementation in a number of large energy projects, including gas pipelines Turkmenistan-China, Turkmenistan-Iran, Turkmenistan-Afghanistan-Pakistan-India, high-voltage power transmission lines from Turkmenistan to Iran and in the Afghan direction, etc.

It is necessary to emphasize here that over many years of joint activities with foreign states and companies, our country has established itself as a responsible and reliable partner, carrying out cooperation based on the principles of mutual trust, respect, good neighbourliness and openness.

Among new promising partners, the Turkmen side considers a number of states from the Far, Middle and Middle East, South and Southeast Asia, which show great interest in effective interaction with Turkmenistan in the energy sector. Among them, the Republic of Iraq should be highlighted.

As a result of the current meeting, a Protocol was signed on the main commercial terms of the agreement on the sale, purchase and sale of Turkmen natural gas to the Republic of Iraq. According to the protocol, for a period of 5 years, 9 billion cubic meters of Turkmen natural gas will be transported annually through the Islamic Republic of Iran to Iraq under the SWAP scheme.

In this way, Turkmenistan, which has huge reserves of hydrocarbon resources, firmly and consistently pursues a policy of further diversification of its energy supplies to world markets.