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Technology

Int’l court to deal with Iran-Turkmenistan gas dispute

Tehran, The government of Turkmenistan announced that Iran-Turkmenistan gas dispute has been officially referred to the International Court of Arbitration, report said on Monday.

Iran's complaint chiefly focuses on Turkmenistan's cutting off the gas without prior notice, low quality of the gas, and the high price.

The dispute between the two began when Turkmenistan increased the agreed price of 40 dollars per thousand cubic meters eight-fold by late 2008.

The dispute exacerbated in the face of an in unprecedented cold weather in winter 2016 when Turkmenistan asked to receive what it said to be some 1.8 billion dollars debt from Iran, caused by illogical increased prices, leading to one-sided shut down of the gas transfer line without any prior notice.

On the other side, the quality of the gas being swapped from Turkmenistan to Azerbaijan through Iran got very low at some point.

After several rounds of unfruitful negotiations on the gas dispute, the two sides decided to refer it to global arbitration body earlier this year.

Proposed by National Iranian Gas Company (NIGC) and accepted by the Turkmen gas company Turkmengaz, the government said the dispute has been officially filed to International Court of Arbitration for resolution, according to a report by the Azeri media 'Trend'.

It will take about two years for the court to conclude and there will be no gas export from Turkmenistan during this period.

Source: Islamic Republic News Agency - IRNA


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