Iran's 25-Year Gas Export Contract With Turkey Expires This Month as Renewal Talks Have Not Begun

Iran's 25-year gas export contract with Turkey, which carries up to 9.6 billion cubic meters annually via pipeline, is set to expire this month (July 2026). According to a Forbes report published June 29, 2026, Turkish Energy Minister Alparslan Bayraktar confirmed that formal negotiations on an extension have not yet begun, though he said "according to our forecast, we might need this gas pipeline or the gas flow from Iran for the security of supply of Turkey." The report noted that since UN sanctions snapped back in September 2025, Turkish banks have grown more cautious about payments to the National Iranian Gas Company, since the US oil sanctions waiver does not cover natural gas.