Iran says fully settled debt to Turkey over gas exports

Iran says fully settled debt to Turkey over gas exports

TEHRAN

Iran has fully settled its debt to Turkey over gas exports, a senior Iranian energy official said on Feb. 5, adding that Ankara should now buy Iranian gas without a discount.

The managing director of National Iranian Gas Co, Hamid Reza Araghi, was quoted as saying by Fars news agency that “Iran has exported 8 billion cubic metres of gas to Turkey for free.”

He added that Iran “will continue gas exports from now to Turkey on a normal basis and will receive the money”.

Turkey, which buys around 10 billion cubic metres of gas annually from Iran, opened a case against Tehran in 2012 over higher prices.

The International Court of Arbitration ruled in 2016 against Iran, and said Tehran should reimburse Turkey $1.9 billion, or about 13 percent of total sales.

Iranian Oil Minister Bijan Zanganeh said last year that Iran was paying the debt by not receiving payment for gas sales to Turkey.

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