Court ruling on Iran, Turkey gas dispute out by Summer

TEHRAN, April 05 (Shana) –- A senior Iranian gas official said the final ruling on a gas price dispute between Iran and Turkey will be issued by summer.

Azizollah Ramezani, director of international affairs at National Iranian Gas Company (NIGC), told Shana that the final ruling on the case is not issued yet but will be out by summer.

Turkey has sued Iran to the International Court of Arbitration (ICA) affiliated to the International Chamber of Commerce for overcharging its gas to Turkey.

On 10 November 2014, ICA turned down the case against lack of reliability to pump gas and endorsed NIGC’s plea.

According to NIGC CEO, in the second case the Turkish firm has made the complaint that Iran’s gas is more expensive in comparison to other energies when considering global market, Russia’s price, and Turkey’s non-gas energy prices.

“Turkey has put forward all its reasoning in the court and NIGC, too, has tabled all of its defense so both parties have to wait for the arbitration,” Hamid-Reza Araqi said.

Iran and Turkey in 1996 signed a contract valid for export of up to 10 bcm of gas annually for a 25-years period by pumping 30 mcm gas per day.