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.

Source: http://en.trend.az/regions/iran/2245044.html

A new ‘golden age’ in energy

Gila Benmayor       Hürriyet Daily News and Economic Review

We are entering a phase where interesting developments are being experienced in the world energy market.
Before moving on to the world, first, one piece of news from Turkey.

The Nabucco Natural Gas Pipeline Project, which has not been appearing on the press for a long time, is preparing to come back on the agenda next week on Wednesday with an agreement to be signed in the central Anatolian city of Kayseri.

The fact that European Union Commissioner for Energy Günther Oettinger and Special Envoy of the United States Secretary of State for Eurasian Energy Richard Morningstar will participate at the signing ceremony, which will be held between the energy ministers of those transit countries (Austria, Bulgaria, Romania, Turkey, Hungary) that the natural gas pipeline will pass and Nabucco companies, is a sign of the huge significance Nabucco holds for both Europe and the U.S.

Nabucco’s signing ceremony coincides with the exact period where the world of energy has turned its eyes on natural gas.

The Turkish energy minister says new argument needed than oil-indexed natural gas price

AA

The Turkish energy minister said on Friday that a new argument was needed than the oil-indexed natural gas prices.

Turkish Energy & Natural Resources Minister Taner Yıldız, who is currently in Kazan, the Autonomous Republic of Tatarstan to attend Turkey-Russia Joint Economic Committee meeting, replied to questions of a group of Turkish reporters. Upon a question on reduction of gas prices with Russia, Yıldız said the increase in oil prices was an important element in discussions over gas prices. Noting that Turkey desired the oil-indexed natural gas price to leave its place to another argument, Yıldız said talks on the matter continued with Russia.