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Iran sells gas to Turkey for highest price at $570 per 1000 cm

Business Materials 11 October 2013 13:05 (UTC +04:00)

Azerbaijan, Baku, Oct. 11/ Trend, N. Umid

Iran has sold natural gas to Turkey for $570 per thousand cubic meters during last year, Turkish Taraf newspaper reported.

According to the report, the figure is the most expensive price which turkey has paid for natural gas, while the country bought natural gas from Azerbaijan for $380 per thousand cubic meters.

Turkey has imported about $23 billion worth of natural gas from Iran, Azerbaijan and Russia during last year, the report said.

The head of Iran National Gas Company Javad Owji said on April 10 that Iran earned $3.5 billion from exporting 8.4 bcm of gas during last solar year (ended on March 21) was €1.8 billion ($ 2.32 billion).

The price of Iranian exported gas to Turkey was at $416 per thousand cubic meters during March 19, 2012 to March 19, 2013.

Turkey appealed to the International Court of Arbitration against Iran to dispute the gas price in March 2012.

Turkey also objected Iran due to it not fulfilled its obligation to supply gas to Turkey.

In June 2012, Turkey media outlets quoted Turkish Minister of Energy and Natural Resources Minister Taner Yildiz as saying Iran has cut the natural gas supply to Turkey.

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

According to the statistic data of the Turkish State Pipeline Company Botas, Turkey imported 39.7 billion cubic meters of gas from Iran in 2011. Russia ranks first, followed by Iran and Azerbaijan among exporters of gas to Turkey.

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