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EghtesadOnline: Turkmenistan stopped gas exports to Iran early on Sunday, according to an informed official with Iran's Petroleum Ministry.

The source said the Petroleum Ministry will issue an official statement in that connection later in the day, ILNA reported.

There are no concerns about any possible shortage of gas in the Iranian northern and northeastern provinces and the officials have devised the necessary precautionary measures, the official said.

A day earlier, Deputy Petroleum Minister and Managing Director of National Iranian Gas Company (NIGC) Hamid-Reza Araqi said Iranian contract with Turkmen Gas is in place for next five years.

Explaining outcome of his 3-day visit to Turkmenistan and negotiations with Turkmenistan Vice-President, Energy Minister, Foreign Minister and Managing Director of Turkmen Gas Company, Araqi said that a Memorandum of Understanding (MoU) on gas import to Iran, swap and drawing up strategy for cooperation of the two companies were the topics of negotiations.

The two parties agreed to set up a joint committee to review cases of differences in the next two months for settlement, Araqi said.

Iran-Turkmenistan trade Turkmenistan gas