According to Turkish media, Turkey and Iran have come to an agreement regarding a 12-13 % discount on natural gas supplied by Iran, after this February’s ruling of the International Chamber of Commerce (ICC) in Paris, which has awarded Turkey a discount between 10 and 15 %.
Turkey has initiated a suit to the International Court of Arbitration against Iran on the issue of gas prices in March 2012, claiming that the price of Iranian gas supplied to Turkey is much higher than the market price. Iran is Turkey’s second largest supplier of natural gas after Russia, but price of Iranian gas is higher comparing to natural gas delivered from Russia and Azerbaijan. Iran and Turkey signed an agreement in 1996 to supply 10 billion cubic meters of natural gas to Turkey annually (about 30 million cubic meters per day).
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: arbitration, gas, gas discount, Iran, supply, Turkey