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Turkey believes Arbitration court to decide in its favour in Iranian gas issue

Oil&Gas Materials 7 February 2012 18:29 (UTC +04:00)
Turkey believes the International Court of Arbitration will decide in favour of Ankara in the issue of price and short supplies of the Iranian gas
Turkey believes Arbitration court to decide in its favour in Iranian gas issue

Azerbaijan, Baku, Feb.7 / Trend A.Taghiyeva /

Turkey believes the International Court of Arbitration will decide in favour of Ankara in the issue of price and short supplies of the Iranian gas, Samanyolu Haber TV Channel quotes Turkish Minister of Energy and Natural Resources Taner Yildiz as saying on Tuesday.

"Currently, Turkey buys the most expensive gas from Iran. However our country intends to decrease the Iranian gas price to normal international level," Mr Yildiz said.

He said earlier Russia decreased the gas price for Turkey. Difference in price of purchase of gas paid earlier has already been reckoned as payment of fuel in 2012. Thus, Turkey has already paid 75 per cent of cost of the Russian gas it intends to buy in 2012.

Earlier Turkey sued Iran at the International Court of Arbitration over short supply of Iranian gas to Turkey.

Turkish minister of energy and natural resources Taner Yildiz said earlier if Iran does not reach an agreement with Turkey on lower gas prices, then Ankara will have to file a second lawsuit against Tehran to dispute the price.

In 1996, Iran and Turkey signed an agreement to supply 10 billion cubic metres of gas to Turkey annually (30 million cubic metres per day).

According to the statistical data of the Turkish State Pipeline Corporation Botas, Turkey imported 39.7 billion cubic meters of gas in 2011. Among the exporters of gas to Turkey Russia ranks first, Iran and Azerbaijani follow Russia.

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