Iran, Turkmenistan and Iraq Sign 10 Billion Cubic Meter Gas Swap Deal

Iran and Turkmenistan signed a contract on Thursday, July 3, 2026 (12 Tir 1405), for the annual transfer of 10 billion cubic meters of Turkmen gas to Iraq via Iranian territory. Under the swap arrangement, Iranian companies will build a new 125-kilometer pipeline between Iran and Turkmenistan to expand transfer capacity. Turkmenistan also announced a longer-term plan to raise gas supplies to Iran to 40 billion cubic meters a year, though no timeline was given. The deal allows Iran to meet gas export commitments to Iraq, which had previously relied on Iranian gas for roughly 40 percent of its imports.