Tehran, Iran, April 16
By Milad Fashtami - Trend:
Iran believes that the International Court of Justice will most likely favor Iran in the gas price dispute with Turkey, according to Iranian Oil Minister Bijan Namdar Zanganeh.
Zanganeh assured that Turkey's complained will cause no problem for Tehran, Iran's IRNA News Agency reported on April 16.
"Negotiations about the gas price and a possible increase in gas exports is still underway," he said.
Turkey laid a formal complaint against Iran in regards to high price of gas in March 2012.
If the court rules in favor of Turkey, Iran will be obliged to provide Turkey a 30 percent discount on gas purchases.
Iran is currently charging Turkey $490 for every 1,000 cubic meters of gas. It is while Ankara says it has to pay only $335 and $425 to Azerbaijan and Russia, respectively, to import the same amount of gas.
In 1996, the Tehran and Ankara signed an agreement, according to which Iran would supply 10 billion cubic meters of gas annually to Turkey.
Under the agreement, Iran should export about 27.3 million cubic meters of gas per day to its northwestern neighbor.
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.