News ID: 209491
Published: 0310 GMT February 05, 2018

Iran fully settled debt to Turkey over natural gas exports

Iran fully settled debt to Turkey over natural gas exports

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

Managing Director of National Iranian Gas Company Hamidreza Araqi further said that Iran exported eight billion cubic meters of gas to Turkey for free, reported Fars News Agency.

He added that Iran will continue gas exports to Turkey on a normal basis and will receive the payment.

Turkey, which buys around 10 billion cubic meters 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 which is about 13 percent of total sales.

Iran's Oil Minister Bijan Namdar Zanganeh said last year that Iran was repaying the debt by not receiving payment for gas sold to Turkey.

   
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