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Turkey to import more Iranian gas at discount price

Turkey to import more Iranian gas at discount price

ANKARA: Iranian Ambassador to Turkey Ali Reza Bigdeli said Turkey will purchase more natural gas from Iran, which will grant a certain reduction in gas prices accordingly.

He added that a new agreement is needed so that Turkey can receive a discount from Iran for natural gas. “The formula has been accepted by us,” said the ambassador, and also underlined that the International Court of Arbitration – where natural gas pricing between Turkey and Iran is addressed – is not a court in the traditional sense of the term but a decision-making forum for the two countries.

Both countries also have the right to appeal to court to determine a price in line with the articles of the existing natural gas export treaty.

In reference to the natural gas import treaty that was signed between the two countries, Bigdeli said that a new agreement should be signed to address the price reduction and it should be passed as legislation by both countries’ parliaments. Pointing to the difficulty of fostering economic development in the region surrounding Turkey and Iran, Bigdeli underscored that the regional countries’ development programs should be set and maintained without pressure by external powers.