Iran and Turkmenistan have agreed for Turkmenistan to export 10 million cubic meters of natural gas a year from its South Yolotan natural gas field to Iran, the state Irna news agency reports Saturday, citing Iran's oil minister.
"According to this memorandum of understanding, 10 million cubic meters of gas will be transferred from Turkmenistan's 'Yolotan' natural gas field to Iran," Gholam Hossein Nozari said Saturday evening, according to Irna.
The two sides signed the memorandum of understanding on natural gas cooperation during a visit to Tehran by a delegation of Turkmen officials that included Turkmenistan's president Kurbanguly Berdymukhamedov, according to Irna.
During "the Turkmenistan delegation's visit to Tehran, a memorandum of understanding in the field of natural gas was signed according to which Turkmenistan's large Yolotan natural gas field will be developed by Iranian companies," Nozari said, reports Irna.
"Yearly, 10 million cubic meters of this large field's natural gas will be transferred to Iran," the Iranian oil minister added, according to Irna.
Nozari said the purchase price for the gas would be determined during discussions with Turkmen officials at a later time, Irna reports.