The policy of Iran in general is that trade and business relations with Turkmenistan should continue. (Photo: AP)

The Head of the National Iranian Gas Company (NIGC) Hassan Montazer Torbati said Iran is ready for natural gas trade with Turkmenistan, Orient news outlet reported on Wednesday with reference to the Iranian media.

Hassan Montazer Torbati, in an interview with the Iranian news agency ISNA, when asked about the current situation and prospects of gas cooperation between Iran and Turkmenistan, said that the policy of Iran in general is that trade and business relations with Turkmenistan should continue.

The NIGC Head also commented on the situation on the gas dispute with the Türkmengaz State Concern, noting that “the gas contract of Iran with Turkmenistan was examined in international arbitration, conclusions were drawn and a decision was made. Now we need to see what Turkmenistan's plans are to develop relations with Iran in the field of gas trade."

He added that Iran seeks to export natural gas to Europe and is studying the delivery of the energy resources to the EU via Turkey.

The National Iranian Gas Company (NIGC) is one of the four main oil and gas companies under the Iranian Oil Ministry.

Last year, the International Court of Arbitration (ICA) announced its verdict on the gas dispute between Iran and Turkmenistan. According to the verdict, Iran must pay Ashgabat almost $2 billion to pay off its debt for Turkmen gas purchased from 2007 to 2013.

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