Türkiye And Iran Strengthen Energy Ties

In Tehran, Bayraktar held meetings with his Iranian counterparts, Ali Akbar Mehrabian and Oil Minister Javad Owji.

He visited Iran to follow up on the energy agreements inked in January in Ankara during the eighth Türkiye-Iran High-Level Cooperation Council. Bayraktar emphasized that both nations aim to ramp up bilateral trade to $30 billion.

“The scope for collaboration between our countries, particularly in energy and natural resources, is vast to achieve this trade target,” stated the minister.

Highlighting Iran’s significant role as a natural gas supplier to Türkiye, Bayraktar underscored the enduring 30-year natural gas trade relationship between the two nations.

“We hope to swiftly finalize ongoing negotiations and take further steps to enhance this gas supply agreement,” added the Turkish minister.

Last year, Türkiye’s natural gas imports totaled 50.5 billion cubic meters, a decrease from the previous year’s 54.7 billion cubic meters.

Bayraktar also raised the issue of Turkish private companies’ involvement in Iran’s natural gas infrastructure projects during discussions with Iranian officials.

He mentioned discussing these projects with Owji, Iranian companies and stated that talks will continue. Following the meeting with Mehrabian, Bayraktar announced that Türkiye and Iran would commence electricity trading.

The minister indicated ongoing discussions regarding exporting electricity from Türkiye to Iran or vice versa through a transmission network as needed.

“Hopefully, electricity trading will kick off between the two nations in the coming months,” expressed Bayraktar.

Bayraktar emphasized that energy cooperation is a vital aspect of the long-standing and mutually beneficial agreements between the two countries.

Renewable energy was also a topic of discussion during talks with Iranian officials, as per Bayraktar.

“We’ve committed to expanding our endeavors to support Iran in tapping into its renewable energy capabilities, leveraging the expertise and resources of our companies. In Türkiye, we’ve collectively established a total capacity of 25,000 megawatts in wind and solar energy,” he explained in detail.

Additionally, both countries will bolster cooperation, with Energy Exchange Istanbul (EPİAŞ) offering its expertise to assist Iranian officials in establishing a planned energy exchange market in Iran, Bayraktar added.