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Azerbaijan, Turkey will agree on gas price in a week

05 June 2009 09:59 (UTC +04:00)

Baku. Rashad Suleymanov - APA-Economics. Azerbaijan and Turkey will set a price for natural gas within a week, Turkeyâ€™s Zaman quoted Turkish Minister of Energy and Natural Resources Taner YÄ±ldÄ±z as saying.

According to him, Turkey has submitted a set of proposals to SOCAR for review and waits for an answer.

He added that Azerbaijan has also put forward its proposals.

The minister declined to refer to any price because of ongoing negotiations.

Several weeks ago, Turkish media quoted an unnamed source as saying Azerbaijan would charge Turkey about $200-$250 per 1,000 cubic meters of gas, compared to $120 it charges until now.

Last week Azerbaijanâ€™s Minister of Industry and Energy Natig Aliyev said Azerbaijan seeks to charge Turkey for natural gas a price that is in line with market prices.

The two countries have been in intensive negotiations on the price and volume of naturals gas Azerbaijan exports to Turkey. Turkey proposes increasing the volume of gas delivery, especially from Shah Deniz Phase 2 while Azerbaijan wants to bring prices close to market prices.