Ankara, Nov 29, IRNA – An international court of arbitration in Geneva, Switzerland, has recently ruled in Iran’s favor in a case brought by Turkey over the price of Iran’s exported gas to Ankara, it was reported on Friday.
Ankara viewed that the price of its imported gas from Iran should be balanced by 32.5 percent.
However, according to Zaman daily, examining the first part of Turkey’s complaint which was related to Iran’s failure in providing Turkey with enough gas in winter, the international court of arbitration has ruled in Iran’s favor.
Iran is the second major supplier of natural gas to Turkey, after Russia, exporting up to 9.6 billion cubic meters of gas to the country annually.
Turkey’s complaint against Iran was brought to the international court of arbitration by Turkish Butash Oil and Gas Company that is the partner of the National Iranian Gas Company.
The court began examining the case in February 2014.
Turkey imports about 10 billion cubic meters of gas a year from Iran, about 30 percent of its needs.
In 1996, Tehran and Ankara signed an agreement on gas exports for 25 years which will expire in 2026. Ankara has ever since imported about 66 billion cubic meters of natural gas from Iran.
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