Iran names conditions of reduction of gas prices for Turkey
Trend Elmira Tariverdiyeva, Tamkin Jafarov
Iranian Oil Minister Bijan Namdar Zanganeh named conditions for reducing gas prices for Turkey, Iran's ISNA news agency reported on Feb.22.
"We are willing to lower the gas price supplied to Turkey, upon condition that it will increase the volume of imported gas from Iran," Zanganeh said, adding that the share of gas in Turkey`s market is important for Iran.
Earlier, Turkish Minister of Energy and Natural Resources Taner Yildiz said that natural gas prices, offered by Iran, does not satisfy Turkey.
Currently Turkey and Iran are in talks on gas prices, but no agreement has been reached between the parties yet, according to the minister.
In March 2012, Ankara appealed to International arbitration over the issue price of Iranian gas price.
The agreement on supplies of 10 billion cubic meters of gas to Turkey on an annual basis was signed with Iran in 1996.
The prices are not officially disclosed, but according to Turkish media outlets, Turkey buys Iranian gas for $490 per thousand cubic meters.
In 2012 Turkey imported 7.5 billion cubic meters of gas from Iran, according to BP statistics. Earlier Yildiz said that, in 2013 Turkey imported gas from Iran worth $4.5 billion.