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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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