Baku, Azerbaijan, Feb. 26
By Rahim Zamanov - Trend:
Iran will able to increase gas exports to neighboring Turkey in the next three years, Iran's Deputy Oil Minister for International Affairs, Ali Majedi, said on Feb 26, IRNA News Agency reported.
"If Turkey increases gas imports from Iran, then Tehran can think about giving a discount to Ankara," Majedi added.
"An international court is currently considering the case," Majedi said. "The final verdict will be announced in a few months."
Majedi said that referring to Turkey's formal complaint against Iran in connection with a high gas price.
Ankara appealed to the International Court of Arbitration over the price on Iranian gas in March 2012.
If the court rules in favor of Turkey, Iran will be obliged to provide Turkey with a 30 percent discount on gas purchases.
On February 16, Iranian Oil Minister Bijan Namdar Zanganeh said that Iran is considering Turkey's request to double its natural gas imports from the Islamic Republic, Press TV reported.
Zanganeh stated that Turkey has expressed an interest in increasing its gas purchases from Iran to 20 billion cubic meters a year.
However, the oil minister said Iran has not yet made a decision on Turkey's request for reducing the gas price. Iran is currently charging Turkey $490 for every 1,000 cubic meters of gas.
In 1996, the two countries signed an agreement, according to which Iran would supply 10 billion cubic meters of gas to Turkey annually.
Iran should export about 27.3 million cubic meters of gas per day to its northwestern neighbor in accordance with the agreement.
In October 2013, Turkish Energy Minister Taner Yildiz said that Turkey is importing 10 billion cubic meters of gas a year from Iran but would buy more if it were available.
Turkey will also import at least 5 million tons (100,000 barrels per day) of Iranian crude in 2014, the same amount that it purchased last year, since any more cuts in the volume from Iran would "threaten" the country's economy, Hurriyet Daily News quoted Yildiz as saying.
"Now we are importing about 5 million tons, and if we [reduce] that, then that would threaten our energy supply security," he added.