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 Finance Ministry reported on Thursday that the country’s public debt, including domestic and external obligations, amounted to AZN 26.201 billion ($15.4 billion) as of October 1, 2024, equivalent to 21.6% of GDP.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, praising notable achievements in macroeconomic stability and the banking sector. However, the report underscores persistent vulnerabilities stemming from the country’s dependence on hydrocarbons and provides a detailed outlook for its oil-rich economy.
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The Azerbaijan Caspian Shipping Company (ASCO) announced the commissioning of its newly built vessel, "Bergyushadchay", on November 28. Constructed at the Zykh Ship Repair and Construction Yard, the vessel is now part of ASCO's Caspian Sea Oil Fleet as an auxiliary ship, according to the company's statement.
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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