Bank Of Baku

Azerbaijan and Turkey could not agree on gas price

Azerbaijan and Turkey could not agree on gas price
# 10 July 2009 15:24 (UTC +04:00)
Baku – APA. President of State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev met with the Turkish Minister of Energy and Natural Resources Taner Yildiz in Ankara. According to APA, Yildiz told journalists after the meeting that the talks on regulation of Shahdeniz-1 gas and volume of Shahdeniz-2 gas are going on and final agreement has not been reached yet. “We are moving forward step-by-step, but there is no result yet”, said the minister. Yildiz said they would work on the figures. He said Turkey made its proposal on the gas price before the reaching of gas deal between Azerbaijan and Russia and insisted on it.

He said they didn’t think to appeal international arbitrage for price dispute because the sides understand each other and the agreement will be reached, but it will take time.
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