Hetq Online » Turkey to Pay 150% More for Azeri Gas

Turkey to Pay 150% More for Azeri Gas

[ 2010/02/08 | 10:33 ] region

Turkey will be paying Azerbaijan 150% more for gas imports this year after lengthy negotiations between the two countries agreed on a price of $300 per thousand cubic meters.

Although no official deal has been signed, Turkish press reports that Ankara has given its approval. According to the informal agreement, Turkey will pay $1.8 billion to Azerbaijan in exchange for 6 billion cubic meters of gas this year. Baku had been seeking a price hike for some time as world gas prices are hovering around $400. Turkey had been paying $120 per thousand cubic meters.

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