Iran Exports Free Gas to Turkey

Iran Exports Free Gas to Turkey

Iran’s Oil Minister, Bijan Namdar Zanganeh, said the country is currently not receiving any money from Turkey for the export of gas, because a court ruling has forced Tehran to give Ankara a partial refund following a lengthy legal dispute over gas pricing, Tasnim News Agency reported.

Additionally, Turkey had requested a 62.5% discount on Iran’s natural gas price, but the International Court of Arbitration approved of only 13%, Zawya informed, citing Zanganeh’s statement.

Turkey had brought a case to the International Court of Arbitration against Iran in 2012, claiming that the gas price was too high. According to the international conventions, due to the fact that natural gas export contracts are long-term, there is always an article in the contracts that provides both sides with a chance for calling for price reconsideration.

Iran is Turkey’s second supplier of gas after Russia, providing for one-fifth of the country’s consumption. Azerbaijan is another supplier.

Mariana Somensi 890 Posts

Mariana holds a Journalism Bachelor Degree from the State University of Londrina, Brazil. The Brazilian journalist has 4 years of experience on the MENA region's affairs and over a year of experience on the oil and gas industry.

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