Turkey takes Iran to arbitration court

Speaking to a group of reporters at the Parliament yesterday, Energy Minister Taner Yildiz said that Turkey took Iran to the International Arbitration Court over gas imports. "We took Iran to court Jan. 16 because of the inadequate amount of gas they have exported to us. We are also talking about the price of gas. We haven't been able to reach a deal since July 2011. Unless we agree by March, we will also bring the price paid for gas imports to the court," Yildiz said. Stating that Turkey will continue to buy oil from Iran without any change in its stance, Yildiz said, "The price we pay for gas imports from Iran is above international prices. We believe that if the arbitration council approves it, we will be able to take price difference from Iran retrospectively." Yildiz said that Turkey's application was based on reasonable grounds, adding that oil purchase contracts of 10 billion cubic meters have been signed by Turkey with Iran.