TEHRAN – Iranian Oil Minister Javad Oji has said the country is determined to settle its natural gas dues to Turkmenistan as soon as possible, Shana reported.

Oji made the remarks following a meeting with a Turkmen delegation headed by the country’s Foreign Minister Rashid Muradov on Tuesday.

According to Oji, Iran has two long-term (25 years) deals with Turkmenistan based on which the country imported 40 million cubic meters (mcm) of gas on a daily basis.

"Unfortunately, in the previous government, Turkmenistan's gas exports to Iran were cut off due to the delay in payment of Turkmenistan's dues," he said, adding that the issue was referred to the International Court of Arbitration, and this court determined the exact amount of Iran's debt to Turkmenistan.

The oil minister noted that the negotiations with the Turkmen delegation which consisted of representatives of the country’s energy and banking sectors were positive, adding: "Fortunately, with appropriate planning that we had already done, positive negotiations were done to settle the mentioned debt."

According to the official, representatives of the National Iranian Gas Company (NIGC) and the Central Bank of Iran (CBI) will continue the negotiations between the two countries at the expert level in the coming days.

“Considering the solutions and proposals that we have presented, the debt to the Turkmen side will undoubtedly be settled, and we are determined in this regard,” Oji stated.

The minister further announced Iran's readiness to export technical and engineering services to Turkmenistan, saying that Iran has a high capacity in the petrochemical, refinery, onshore and offshore drilling, as well as oil and gas industries that it can provide to Turkmenistan.

He stressed that the main purpose of the meeting between the two sides was to promote comprehensive relations with Turkmenistan, adding: "With the good planning done by the Oil Ministry, more such events will undoubtedly take place during this government considering the positive and good attitude that we saw from the Turkmen side."

EF/MA