Turkish and Russian officials to meet again on December 10 to discuss natural gas price

By bne IntelliNews December 10, 2014

Turkish officials will meet with the Russian Gazprom’s representatives on December 10 to discuss a discount on the price of natural gas Turkey purchases from Russia, Turkey’s energy minister, Taner Yildiz said.

Turkey is seeking a bigger reduction and aims to clarify a final price by the end of December, Yildiz said.

During an official visit to Turkey last week, President Vladimir Putin said Russia would cut the price of natural gas by 6% starting January 2015. Yildiz said also last week that the 6% discount offered by Putin was not final and discussions between the two countries would continue. Turkey's news agency Anadolu recently reported that Russia may increase the discount rate to 15%, quoting Russian energy minister Alexander Novak.

Turkey is Russian Gazprom's second largest sales market behind Germany. In 2013, Gazprom supplied Turkey with 26.7bn cubic meters of natural gas.

Turkish newspaper Zaman reported that Turkey pays $418/1,000 cubic meters for Russian gas but the price tag for the natural gas Ankara buys from Iran is $487/1,000 cubic meters.

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