According to the initial agreement, Iran can transfer between 1.5 and 2 billion cubic meters of gas per year, which is likely to increase.
Iranian Oil Minister Javad Oji announced in mid-2022 that the three member countries of this agreement had reached an agreement to double the volume of gas transport.
Iran's goal is to expand gas transportation infrastructure and enhance gas transportation capacity between neighboring countries.
Iranian authorities announced earlier this year that the development of the Rasht-Chalund gas pipeline will be completed by the middle of the year and will increase the volume of gas transfer to Azerbaijan to 5.5 billion cubic meters per year. year.
Iran's oil minister announced last month that the country intended to sign a new import contract with Turkmenistan for 10 billion cubic meters per year.
It is not known how much of this gas will be transferred to Azerbaijan, but it is certain that Azerbaijan needs a higher volume of gas to meet its growing domestic needs and also to meet its export obligations. to Georgia, Turkey and Europe.
In July last year, Baku signed a memorandum of understanding with the European Union to double the volume of gas exports to the mainland through the Southern Gas Corridor, so that the country's exports to the European Union reach 20 billion cubic meters per year by 2027 and compensate for the lack of Russian oil.
In the first phase of this contract, Azerbaijan's gas exports this year are expected to reach 11.5 billion cubic meters, which is well above the 10 billion cubic meters it exported before the war in Ukraine.
Activities continue to increase production from the Shah Deniz gas field, as well as increased drilling and exploration by foreign companies such as British Petroleum and Total France.
But the increase in domestic demand in Azerbaijan does not allow the increase in the country's exports.
Gas demand in Azerbaijan increased by 18% between 2018 and 2021.
But increasing gas exchanges in accordance with the contract with Iran and Turkmenistan can provide more gas to Azerbaijan for export to Europe and fulfill the 25-year dream of transferring gas from Turkmenistan to Europe. 'Europe.
Since the late 1990s, many projects have been launched to develop a pipeline to transfer gas from Turkmenistan to Europe, but they have all failed.
Russia's attack on Ukraine last year increased the desire for Turkmenistan as a source of gas.
Turkmenistan has the fourth or fifth largest gas reserves in the world.
At least on paper, this country can annually replace 174 billion cubic meters of Russian gas exports to Europe.
This can happen by building a pipeline across the Caspian Sea to Europe via Azerbaijan, Georgia and Turkey.
The Azerbaijani president announced at a conference in early May that he could support the development of a gas pipeline to transport Turkmen gas to Europe.