Minister: Turkey's victory in court to bring over $ 2 bln

Photo: Minister: Turkey's victory in court to bring over $ 2 bln / Oil&Gas

Baku, Azerbaijan, Feb. 5
By Rufiz Hafizoglu - Trend:

If Turkey's suit on gas price towards Iran is granted in the arbitration court, the country may receive more than $2 billion, Turkish Minister of Energy and Natural Resources Taner Yildiz was quoted today by the Turkish newspaper Hurriyet as saying.

"Ankara hopes that the arbitration court will issue a decision in favor of Turkey, the minister said.

Ankara appealed to the International Court of Arbitration on the Iranian gas price in March 2012.

The 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.

Turkey buys Iranian gas at $490 per 1,000 cubic meters, according to Turkish media.

Turkey imported 7.5 billion cubic meters of gas from Iran in 2012, according to BP statistics.

Yildiz previously reported that Turkey imported gas from Iran in the amount of $4.5 billion in 2013.

Translated by NH
Edited by CN

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