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SOCAR: â€œLitigation between Botas and DEPA prevents development plans on export of Azerbaijani gasâ€

21 September 2011 10:07 (UTC +04:00)

Remind that, recently Botas (Turkey) company appealed to the Swiss Court of Arbitration at the fact that Greece has not underpaid the money for the transit of Azerbaijani gas via Turkey. According to Botas, this debt increased as a result of the higher gas prices (approximately $ 300 million). The Greek side (the company DEPA) refuses to pay the debt.

â€It’s regrettable. The unresolved issues between commercial DEPA and Botas delaying negotiations with Turkey and Greece on the assignment of rights and obligations to supply gas to Greeceâ€.

Note that, a few days ago the Greek company DEPA issued a statement on the dispute with the Turkish company Botas: â€œDEPA has complied fully and in utmost good faith with its obligations under the contract with BotaÅŸ. DEPA has confirmed its preparedness to pay BotaÅŸ the revised contract price for the full period of its effect and to be invoiced accordingly immediately. DEPA has also provided for this in its financial statements. There ought to be no dispute between the parties. But BotaÅŸ has claimed an additional revision of the price, also with retroactive effect, based on grounds which are factually unsubstantiated. DEPA is confident in its position and looks forward to continuing its close and productive relationship with Botasâ€.