IGEDC: Iraq to pay for Iran gas in eu­ros

Iran Daily - - Domestic Economy -

The Ira­nian Gas En­gi­neer­ing and De­vel­op­ment Com­pany (IGEDC) CEO an­nounced that the coun­try is due to re­ceive pay­ment for its gas sup­plies to Iraq in eu­ros.

Has­san Mon­tazer Tor­bati added that the cen­tral banks of Iran and Iraq have made the de­ci­sion about the cur­rency to be used for gas ex­ports fol­low­ing the US sanc­tions against Iran, re­ported Fars News Agency.

Iran is cur­rently ex­port­ing 36.24 mil­lion cu­bic me­ters of gas on a daily ba­sis, which marks a 45-per­cent rise in com­par­i­son with the fig­ures of the last Ira­nian year (ended March 20, 2018).

Iran’s Plan and Budget Or­ga­ni­za­tion an­nounced in a re­port ear­lier this month that Turkey was the only im­porter of Ira­nian gas in the last year, but this year Iraq also started im­port­ing gas from Iran.

Iran owns the world’s largest nat­u­ral gas re­serves as the coun­try is Turkey’s se­cond big­gest gas sup­plier after Russia.

Iran’s nat­u­ral gas is of cru­cial im­por­tance to Turkey as the en­ergy-hun­gry coun­try uses a sig­nif­i­cant por­tion of im­ported Ira­nian gas to gen­er­ate elec­tric­ity.

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