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Elshad Nasirov: Azerbaijan, Turkey will soon agree on new gas price

09 December 2009 10:11 (UTC +04:00)

London. Vugar Mustafayev - APA-ECONOMICS. Azerbaijan and Turkey are due to agree on a price for natural gas Azerbaijan supplies to Turkey, said Elshad Nasirov, vice-president of SOCAR.

According to him, the parties are currently negotiating on this issue.

â€œI hope this issue will be solved in the nearest weeks.
The new price will be determined in line with the market conditions and will be closer to the export price Azerbaijan charges Iran and Russia. We need to ensure the maximum diversification of our gas exports,â€ he added.

Despite the fact that the new price has not been determined, Turkey will pay natural gas it bought since April 15, 2008 in accordance with the new price and pay off debts in instalments, he added.

Azerbaijan has natural gas agreements with Georgia, Turkey, Russia and Iran at present. Earlier, Azerbaijan charged Turkey $120 per 1,000 cubic meters of gas.
According to unofficial sources, Georgia pays $180 per 1,000 cubic meters of Azeri gas.
Gas prices for Russia and Iran are calculated on a special formula agreed between the parties.