Turkey is going to refuse of the “take and pay” principle in the contract on gas deliveries from Azerbaijan and Iran, Turkish TRT Haber TV channel quoted Turkish Minister of Energy and Natural Resources Taner Yildiz as saying at the meeting on Monday.
“We must get rid of the “take and pay” principle in the contracts with Azerbaijan and Iran, as we have done with Russia earlier,” he added.
He said Turkey will terminate “take and pay” principles with Iran in 2014 and with Azerbaijan in 2015.
“Azerbaijan and Iran will have to ensure sufficient deliveries of gas to Turkey and if the deliveries are insufficient, then they will not be included into this mechanism,” Yildiz said.
The information posted on the web site of the Turkish state pipeline company Botas reads that the contract for delivery of gas from the Azerbaijani gas condensate field Shah-Deniz was signed for the period of 15 years on May 12, 2001. The contract envisages delivery of 6.6 billion cub.m. of gas a year. Azerbaijan and Turkey also have the second contract, which envisages delivery of gas from the Shah-Deniz Phase-2, which envisages delivery of 6 billion cub.m. of gas a year. The contract was signed on October 25, 2011 for the period of 33 years and envisages beginning of deliveries in 2017-2018.
Turkey and Iran signed the contract to deliver 10 billion cub.m. of gas a year for the period of 25 years on August 8, 1996.
