February 02, 2016•Update: February 02, 2016
ANKARA
Turkey and Iran must decide within three months on the level of discount Turkey will receive on Iranian gas, Turkey's energy minister said Tuesday.
Berat Albayrak said an international court of arbitration would settle on a figure between 13.3 and 15.8 percent if the two countries are unable to reach a decision.
“This is a limited process that will take around two or three months,” Albayrak said. “Within this period, parties will try to decide on a certain percentage. If they cannot, the court will decide the percentage of the discount between 13.3 and 15.8 percentage.”
Any decision on a discount would be applied retrospectively to July 1, 2011. Turkey, which imported 10 billion cubic meters of Iranian natural gas last year, and Iran took their dispute on gas prices to the court in 2012.
“We will arrange the natural gas prices that the consumers use in accordance with the discount from the court case,” Albayrak added.
