Turkey expects Russia to reduce cost of gas

The Turkish authorities expect cost of Russian gas to reduce as early as this year,  cancellation of a principle of “take or pay” and a ban on re-export of gas. The country has more chances of success in terms of re-exports which have already been canceled for all European countries. However, experts believe that if Turkey becomes a new transit of Russian gas, it will not be much easier to agree with it than with Ukraine.

On August 10, Turkish Energy Minister Taner Yıldız described several of the themes that his country intends to discuss with Gazprom other than those which the parties agreed during the visit of Vladimir Putin last week.

In accordance with the intergovernmental protocol on cooperation in gas sphere, Turkish national pipeline company Botas and Gazprom will negotiate lower prices for Russian gas, re-export permit and the lifting principle of “take or pay.”

According to the Turkish newspaper Sabah, this year, Turkey will have to pay for about 2 billion cubic meters of not selected gas, Kommersant reported.

Also, the parties will discuss extension of contracts on purchase of 6 billion cubic meters of Russian gas supplied via the western corridor through Ukraine and Bulgaria by 15-25 years. The term of the contract expires in 2011. “There is no specificity in this respect so far. The decision will be adopted taking into consideration Turkey's own resources and the agreements already concluded with other countries,” Yildiz said.

/Day.Az/