Turkish Minister for Energy and Natural Resources Taner Yildiz said that Turkey will stop using the take-or-pay system of contracts on purchase of Russian gas at the end of January. It also plans to quit that principle in contracts with Azerbaijan and Iran.
Turkey receives gas from the Shah Deniz Field in Azerbaijan via the Baku-Tbilisi-Erzurum Pipeline. Turkey is to receive 6.6 billion cubic meters of gas at the first stage of the field’s development and 6 billion more at the second.
Shah Deniz has 1.2 trillion cubic meters of gas reserves.
Iran and Turkey signed a contract in 1996. Iran provides Turkey with 10 billion cubic meters of gas annually (30 million daily).
