Baku, Azerbaijan, Feb. 12
By Rufiz Hafizoglu - Trend:
The International Arbitration Court's hearing on Turkey's suit against Iran regarding the prices for supplied gas will be held on Feb. 17, Turkish news agency Anadolu reported on Feb. 12.
If the court rules in Turkey's favor, Tehran will be obliged to provide Turkey with a 30 percent discount on gas supplied.
Ankara appealed to the International Court of Arbitration on the price for Iranian gas in March 2012.
An agreement on the annual supply of 10 billion cubic meters of gas from Iran to Turkey was signed in 1996.
Gas prices are not officially disclosed. But Turkey buys Iranian gas at a price of $490 per 1,000 cubic meters, according to the Turkish media.
Turkey imported 7.5 billion cubic meters of gas from Iran in 2012. Earlier, Turkish Minister of Energy and Natural Resources Taner Yildiz reported that the country imported gas from Iran worth $4.5 billion in 2013, according to BP Energy Outlook.
Moreover, the minister stressed that with a ruling in Turkey's favor, the country may receive more than $2 billion.
Translated by NH
Edited by CN