Tri-nation Gas Swap Agreement Could Transform Europe’s Energy Market

The volume of gas being transited between Turkmenistan, Iran, and Azerbaijan under a groundbreaking three-way swap agreement signed in late 2021 is expected to grow by 70 percent this year according to Majid Chegeni, the head of Iran's national gas company, NIGC. Chegeni did not mention the volume of gas he expected to be transited to Turkmenistan this year but the original agreement allowed for between 1.5 and 2 billion cubic meters a year, a volume which numerous subsequent reports said would quickly be increased. In mid-2022 Iranian oil…