The agreement is expected to be signed on the sidelines of the ministerial meeting of the Economic Cooperation Organization (ECO), scheduled to kick off in Tehran on Monday.
Following the agreement, Iran’s natural gas exports to Turkey will reach 30-35 mcm per day.
In December 2012, Turkish Energy Minister Taner Yildiz said his country will continue buying natural gas from Iran despite financial sanctions imposed against the Islamic Republic by the West.
The United States, Israel and some of their allies have repeatedly accused Iran of pursuing non-civilian objectives in its nuclear energy program. Over the false allegation, Washington and the European Union have imposed unilateral illegal sanctions against the Islamic Republic.
Iran refutes the allegation, arguing that as a signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it is entitled to develop and acquire nuclear technology for peaceful purposes.
Iran’s natural gas is of crucial importance to Turkey, as it uses a significant portion of imported Iranian gas to generate electricity.
Iran, which owns the world’s second-largest natural gas reserves after Russia, is Turkey’s second-biggest supplier after Moscow.
In addition to exporting gas to Turkey, Armenia, and Pakistan, the Islamic Republic is currently negotiating gas exports to Iraq.
Turkey also imports oil from Iran.
Source: Press TV