IRAN/TURKEY

Turkey Files Lawsuit Against Iran Over Gas Price

Turkey has filed a lawsuit against Iran at the International Arbitration Court (IAC) in a bid to force Tehran to reduce the gas price in a 1996 contract, under which Turkey receives up to one-fifth of its annual gas requirement, according to a 31 January TRT Haber TV report. In 2011 Iranian exports to Turkey increased by 12% compared to 2010, although the overall supply of 24mn cmd compares with a pipeline nameplate capacity of...