Turkey demands Iran to reduce gas prices by a third

Turkish Minister for Energy and Natural Resources Taner Yildiz said yesterday that Ankara was demanding Tehran reduce gas prices by 32.5% because the gas has the same quality as that of other exporters.

Turkey has been buying Iranian gas for the prices set in the 1996 deal. Ankara pays $490 for a thousand cubic meters of Iranian gas. The same volume of Azerbaijani gas through the Baku-Tbilisi-Erzurum route costs $335, Russian costs $425. Turkey filed a lawsuit to the International Court of Arbitration to make Iran reduce the price.

The arbitrary process will continue until the end of 2014.