Greece starts paying off debt for Azerbaijani gas transit to Turkey

DEPA, a Greek pipeline company, has paid the Turkish State Company BOTAS $170 million out of $300 million for Azerbaijani gas transit to Greece, 1news.az reports.

Greece will pay off the remaining sum and interest worth $34.5 million on November 30, 2011, and January 31, 2012.

BOTAS charged Greece at the Swiss Arbitrary Court to adjust prices and volumes of Azerbaijani gas transit. Azerbaijan raised its gas prices from $120 to $250 per thousand cubic meters.

BOTAS demands Greece make transit payments meet the new conditions. Greece disagreed with the new prices and insisted on preserving the old price.