Industry and Energy

Industry and Energy

Azerbaijan and Turkey agree to hold next round of gas talks in Ankara next week

14 May 2009 15:45 (UTC +04:00)

He told on CNN Turk that changing the price at which Ankara purchases Azeri natural gas depending on market conditions is provided under the contract signed in 2001 and implemented since 2007.

In his words, Turkish Prime Minister Tayyip Erdogan leading a delegation to Azerbaijan discussed the issue at official meetings there.

â€œThe negotiations have been under way since April 15, 2008. There is a need for a new gas price agreement,â€ he added, noting that talks mainly cover three issues.

According to him, the parties have made some progress on all the three issues of changing the price of gas from Shah Deniz Phase I, buying gas from Shah Deniz Phase II and transit terms.

Asked how much Azerbaijan would increase the price of gas for Turkey, he added that the price would be in line with market prices.

â€œWe donâ€™t want to take the price Russia charges for natural gas as a benchmark. We try to set an appropriate price which will be satisfactory for the both parties. I think we will not be faced with any problem in this issue. We need to meet at least once to discuss this matter,â€ he added.

In his words, Azerbaijanâ€™s Minister of Industry and Energy Natig Aliyev and SOCAR President Rovnag Abdullayev are invited to Ankara to discuss the issue next week.

Turkey purchased 5 billion cubic meters of gas from Azerbaijan in 2008.