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From: allevett	3/4/2005 6:48:43 PM
	of 37387

Turkey for arbitration on Iran gas BY ORHAN COSKUN (Reuters) 4 March 2005 ANKARA — Turkey is preparing to resort to international arbitration after negotiations failed to settle the pricing of natural gas from its second-biggest supplier Iran, officials said yesterday. Ankara, bolstered by a price discount deal with Russian gas monopoly Gazprom last year, had hoped to seal a similar deal with Iran for the last 12 months. “The advisory firm and lawyers in (state pipeline company) Botas are continuing their preparations for arbitration and they have made significant progress,” a Turkish energy ministry official told Reuters. The Turkish government said last year it would resort to international arbitration after Turkish Prime Minister Tayyip Erdogan failed to persuade Teheran to cut prices. Turkey, the biggest buyer of Iranian gas, began purchases of totalling four billion cubic metres in 2001 under a 25-year deal. It is expected to raise its purchase from Iran to 10 billion in 2007 from 6.689 billion in 2005. Iran raised the price of gas it exports to Turkey by 4.5 per cent on January 1. “Arbitration is a very difficult and expensive process...but there is no other option left for Turkey,” said the official. The arbitration process takes six months before a result, he added. The International Court of Commerce (ICC) will look at the case. Following an official complaint delivered to Teheran on frequent gas flow interruptions, that problem was solved last week, said the same official. Iran suspended or slashed the volume of gas it pumps to Turkey during harsh winter weather, which boosted its own domestic demand. If the problem had continued, Ankara could cancel its gas contract with Iran, the official said. Turkey sees its gas consumption rising by 15.7 per cent to 25.8 billion cubic metres in 2005, with 15.5 billion expected to come from Russia. Ankara is working to reach an agreement for gas sales to Israel and will start pumping 246 million cubic metres gas to Greece in 2006.

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