Turkey wins gas price dispute against Iran in arbitration court

Baku. 2 February. REPORT.AZ/ The International Court of Arbitration has ruled against Iran in its gas dispute with Turkey, saying that Iran must offer 10-15 percent of discount on gas sold to Turkey. 

Based on the ruling, Turkey had asked 35.5 percent of discount on Iranian gas, Shana news agency quoted the managing director of the National Iranian Gas Company, Hamid-Reza Araqi, as saying on February 2.

“The International Court of Arbitration has ruled a 10-15 percent of discount for the gas supplied to Turkey during 2011-2015,” he said. 

Turkey, which buys around 10 billion cubic meters of gas from Iran, opened two separate cases against Iran in 2012. One of the files was over higher gas prices and another was over deficiencies in gas distribution. In the second case, the court sided with Iran. 

Iran proposed to double exports of its natural gas for a discount last year, but Ankara rejected the offer.