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Turkey-Russia Dispute Over Gas Price

Turkey-Russia Dispute Over Gas PriceTurkey-Russia Dispute Over Gas Price

Turkish state gas importer Botas has appealed to the International Chamber of Commerce to resolve a row over the price of gas from Russia after the two countries failed to sign a deal, the company said on Tuesday. Turkey said in February it had obtained a 10.25% price discount on the 28-30 billion cubic meters of gas it buys from Russia each year, but the two sides have been at loggerheads over the deal for months, Reuters reported. Botas, which is also Turkey's state pipeline operator, said in a statement it notified Russia's Gazprom on Monday that the arbitration would aim to cover the price of Russian natural gas purchased since the start of the year. Gazprom, the world's top gas producer, said there was still a possibility of an out-of-court settlement with Turkey over the gas price dispute. Turkish energy officials have said Russia has been raising demands regarding TurkStream, a major pipeline project designed to bring Russian gas to Turkey and southern Europe, as a precondition for signing off on the gas price deal.

 

Financialtribune.com