More moves away from the US Dollar…Following on the back of its $20billion barter deal with Russia, Iran ready for gas-for-goods deal with Turkmenistan

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   Iran ready for gas-for-goods deal with Turkmenistan

 

Iran is ready for a gas-for-goods deal with neighboring Turkmenistan, the Islamic republic’s Oil Minister Bijan Namdar Zanganeh said here on Sunday.

“Iran intends to prepare the grounds for exporting goods to Turkmenistan in return for gas purchase from Turkmenistan,” Zanganeh said in a meeting with the visiting Turkmen Vice President Khoja Muhammad Muhammadov.

Zanganeh urged Iranian manufacturing companies to make the necessary arrangements for exporting more items to Turkmenistan, according to Press TV.

Iran exports machinery, construction materials, sedans, buses, food stuff, agricultural and petrochemical products, electrical products and home appliances to Turkmenistan, and imports natural gas, electricity, textiles and agricultural products from its northern neighbor.

Iran is also ready to export natural gas and liquefied petroleum gas (LPG) to Kuwait, Iran’s Deputy Minister of Industry, Mine and Trade Valiollah Afkhami-Rad said Sunday.

Iran can further supply sulphur to Kuwait, Afkhami-Rad said, inviting Kuwaiti financiers to invest in Iran’s hydrocarbon projects.

“There are many grounds for investment in Iran and a package of oil and gas investment projects has been submitted to Kuwaiti investors,” he was quoted as saying by Press TV.

Meanwhile, Iran and Russia are also working on a 20-billion- dollar oil-for-goods deal whereby Iran will export oil to Russia in exchange for Russian goods.

Although the recent interim nuclear deal has provided a space for Iran to revive its oil and gas exports to a limited extent, the Islamic republic is still under western sanction pressures over its controversial nuclear program.

Besides the talks with the world powers, Tehran is seeking ways to boost its oil-dependent economy.

Iran’s Oil Ministry unveiled a draft model of its new oil and gas contracts in February to attract foreign companies to develop Iran’s hydrocarbon reservoirs.

Source: Xinhua

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