Natural Gas Talks Conclude Between Turkey, Azerbaijan

Turkey and Azerbaijan have agreed on the amount and price for the sale of Azerbaijani gas to Turkey in a deal that paves the way for further progress in pipeline projects between the Caspian and Europe.

Turkey will pay US$360 per Tcm of Azerbaijani gas, a price in accordance with European ones. Azerbaijan accepts a lower transit fee than originally expected as both parties acknowledged the importance of Azerbaijani gas flows through Turkey to Europe. Turkey ensured its key position as a transit point for gas deliveries to Europe as a result of the deal.