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EghtesadOnline: Iran is willing to renew the gas swap contracts with the neighboring states, Managing Director of National Iranian Gas Company Hamid-Reza Araqi said on Monday.

'We are seriously considering the gas swap contracts and to this effect, we are busy signing several contracts,' said Araqi in the 26th Energy and Environment Committee session of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).

He said gas constitutes 70 percent of the country's energy basket and the NIGC performance has always been ahead of its targets and annual budgets, reports IRNA.

He noted that this year, five gas pressure stations will be operational.

Araqi said the LNG consumption inside the country is not economically justified and it can be put in the export basket of the country.

gas contracts Iran gas Hamid-Reza Araqi gas swap