NEWS
Transportation   Gas  

Iran-Turkmenistan Gas Case Still Open

The National Iranian Gas Company (NIGC) said that the gas case between NIGC and Türkmengaz Company was still being considered in the International Court of Arbitration.

According to NIGC, Mohammad Asgari reacted to reports about Iran having won the case and that the Turkmen side was required to pay damages to NIGC, and said the case was still open in the International Court of Arbitration and no final verdict had so far been issued regarding the case so far.  

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 early in 2018. 

Proposed by National Iranian Gas Company (NIGC) and accepted by the Turkmen gas company Türkmengaz, the government said the dispute had 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.

News No: 5603
Date: 2019/07/30 - 16:25
News Source: Fars News Agency

Turkmenistan  Gas  NIGC  export  transfer 

Comments:

Leave a Comment:

   
   
   
 

India: Vizag Steel Cancels Steel Export Tender to Nepal; Floats New Tender

One of India's largest steel producer - Vizag Steel, state owned steel maker under the Ministry of Steel, had invited a tender for export of 8,127 Billets, 8,127 MT Wire Rod and 5,418 MT Bloom to Nepal on 17th Sep'19.
 

Global HRC & CRC Market Overview- Week 40, 2019

Indian steel makers offering competitive HRC export offers to Vietnam- Amid flat buying and poor demand hovering in domestic market, Indian steel makers have resorted to ease off inventories to global market. Also low priced imports from Russian steel-makers to Vietnam pushed Indian HRC export offers on lower side.
 

Indian Iron Ore Export Shipments to China Halve in Sep’19

Indian iron ore export shipments in Sep’19 was recorded at 1.14 MnT, down 48% as against 2.20 MnT in Aug’19. On yearly basis, exports increased significantly compared to 0.12 MnT in Sep’18.
 

Iran Roads Minister in Ashgabat

Leading an economic delegation, Roads and Urban Development Minister Mohammad Eslami arrived in Turkmenistan's capital Ashgabat on Tuesday to attend the 15th session of Iran-Turkmenistan Economic Commission.
 

Official: Modifying Gas Turbines to Save €480mln for Iran

Deputy Head of Niroo Research Institute (NRI) for Technology Affairs Seyed Mohsen Marjanmehr said that a large amount of money will be saved for the country in case of changing the gas turbines.
 

Official Confirms Discovery of New Major Gas Field in Southern Iran

The deputy head of the National Iranian Oil Company (NIOC) announced that a massive gas field has been discovered south of the country.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners