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Erdogan: â€œ$120 for Azerbaijani gas sold to Turkey is not fair price in current conditionsâ€

13 May 2009 13:32 (UTC +04:00)

Erdogan said Azerbaijan was an important gas supplier. â€œWe discussed the bilateral and regional agreements and future steps in this field. The ministers also held meeting and they will develop the talks in future. We created basis for the strong foundations in futureâ€.

President Aliyev said it was not correct to connect the issue of gas price with the processes and the new situation in the region. â€œTurkey-Azerbaijan cooperation in the gas field has a long history. According to the agreements, the gas prices are reviewed periodically. It depends on the changing of oil price in the world marketâ€.

An Azerbaijani journalist reminded that Turkey is purchasing the natural gas for higher prices from other countries and asked Erdogan how fair is that Turkey purchases the Azerbaijani gas for $120 per 1000 cubic meters. The Turkish Prime Minister said this price was determined when the agreement was signed and it was not fair in current conditions. â€œThe fair price will be determined during the negotiations between the sidesâ€.

President Aliyev said Azerbaijan had 2 trillion cubic meters of gas potential and the resources could be increased double with the drilling of new gas wells. â€œWe pursue the policy of diversification in the gas export and it meets the interests of friendly and brother countries as wellâ€.