Iran's oil, gas, power transit proposal for Turkmenistan
The Iranian president has proposed that Turkmenistan study the possibility of transiting oil, gas and power to other countries through its territory. “Our countries are among the largest oil and gas producers and the partnership in this sphere will be significantly expanded in the future,” Iranian President Rouhani said March 11. Iran stopped crude oil swap from Turkmenistan five years ago, but currently imports Turkmen gas and exchanges power with its northern neighbor. Iran's oil swap Iran seriously needs oil swap with northern neighbors, because Iran's southern regions share almost the total of the country's oil production. The distance between the country's southern regions with north provinces is about 1800 km and transferring crude oil to refineries in Tehran and Tabriz cities costs a lot. Based on Iran’s fifth five-year development plan (2010-2015), the country should have boosted the volume of crude oil swap from 5 million metric tons annually (ab