If Turkey’s claim against Iranian gas price is allowed in the arbitrage, the country could get over $2 billion, Turkish Hurriyet newspaper quoted Turkish Minister of Energy and Natural Resources Taner Yildiz as saying on Wednesday.
Minister said Ankara hopes that the arbitrage will pronounce judgment in favor of Turkey.
In March 2012 Ankara has appealed to the international arbitrage concerning Iranian gas prices.
The agreement on delivery of 10 billion cub.m. of gas a year from Iran to Turkey was signed in 1996.
The gas prices are not officially disclosed, but according to the Turkish media, Turkey buys Iranian gas at the price of $490 per 1000 cub.m.
According to BP statistics, in 2012 Turkey imported from Iran 7.5 billion cub.m. of gas. Yildiz earlier said that in 2013 Turkey imported gas from Iran to the amount of $4.5 billion.—0--
Economics
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Azerbaijan’s rice imports have surged as domestic production struggles to meet growing demand, underscoring the country’s reliance on foreign suppliers. Despite government initiatives to boost output, local production remains stagnant, with only 10,000 tons expected in the 2024-2025 season, while imports reached 55,961 tons between January and October 2024.
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Azerbaijan and Pakistan have signaled a growing commitment to deepen energy cooperation, with a focus on renewable energy initiatives, as Azerbaijani Energy Minister Parviz Shahbazov hosted a delegation led by Pakistani Federal Minister Abdul Alim Khan in Baku on January 30.
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Oil from Kazakhstan's largest field, Kashagan, has begun flowing into the Baku-Tbilisi-Ceyhan (BTC) pipeline. According to information from SOCAR, the first batch of this oil was received at the Sangachal terminal on January 27 and will be transported via BTC to the port of Ceyhan.
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Azerbaijan is accelerating the implementation of its socio-economic development strategy, focusing on digital transformation and strengthening cybersecurity. The government is allocating resources to human capital development, prioritizing the training of cybersecurity professionals, said Farid Osmanov, Chairman of the Board of the Innovation and Digital Development Agency, on January 30 during the fourth “Graduation Day” of the Azerbaijan Cybersecurity Center (AKM).
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