TEHRAN, November 30. /TASS/. Iran is ready to extend the contract on gas supplies to Turkey and wants to expand bilateral energy cooperation, Iranian Foreign Minister Abbas Araghchi said.

"Iran is a reliable energy supplier to Turkey and we have expressed our readiness to prolong the gas contract, as well as to develop cooperation in the energy sector," he said during a joint news conference with his visiting Turkish counterpart, Hakan Findan.

According to the top Iranian diplomat, Iran and Turkey are not using the potential for cooperation to the full, especially in the trade and economic sphere. In his words, the two countries need to take measures to fill this gap and remove trade and investment barriers between them.

The current contract for the supply of 10 billion cubic meters of Iranian gas a year to Turkey will expire in November 2026. According to the Fars news agency, the two countries are negotiating the next contract.