Turkey to enter arbitration on Iran gas prices

Turkey expects to enter arbitration over the price paid for gas imports from neighbouring Iran, Energy Minister Taner Yildiz said on Monday, after Tehran rejected Ankara's complaint that the price is too high. Iran sits on the world's second-largest natural gas reserves and is Turkey's second-biggest supplier of gas after Russia, sending 10 billion cubic metres of gas each year.
"We have close co-operation with Iran in the field of natural gas, and we shared with them our unease about the gas price. We said these prices were high. They did not share the same view," Yildiz told a news conference. "We could not meet at the same point. It appears that arbitration, that is an international arbitration board, is inevitable," he said.