Iran refunds nearly half of overcharged gas value to Turkey
Baku, Azerbaijan, June 3
By Dalga Khatinoglu – Trend:
Iran has sent about $900 million worth of gas to Turkey free of charge since the beginning of the year to refund for the gas overcharged in 2012-2016, CEO of National Iranian Gas Company Hamid Reza Araghi told SHANA June 3.
He added that Iran will further deliver $1 billion worth gas to Turkey free of charge by late 2017.
Turkey sued Iran in 2010 at International Court of Arbitration for overcharging on the gas it receives. According to the Court’s verdict in 2016, Iran should return $1.9 billion of gas revenues received from Turkey in 2012-2016 and provide a 13.3 percent discount for its gas.
According to the latest report released by Turkey’s Energy Market Regulatory Authority, Iran exported a little more than 2.4 bcm of gas (27 mcm/d) to Turkey in the first quarter of 2017.
Iran exported 7.7 bcm to Turkey in 2016.