Russian energy giant Gazprom and private Turkish companies are said to be close to settling pricing disputes for Russian natural gas, Russian newspaper Kommersant reported citing market sources.
Earlier, Turkish gas importing companies stated they did not rule out filing an international lawsuit against Gazprom because of the discount cancellations, according to a report.
Gazprom works with at least six private Turkish gas companies, including Enerco Enerji, Bosphorus gaz, Avrasya gaz, Shell, Bati Hatti and Kibar Enerji. It is reported that gas supplies to those companies were reduced in February.
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The reduction occurred after Gazprom had canceled a 10.25% price discount, raising strong criticism amongTurkish importers that refused to pay higher bills. Gazprom, in turn, reduced gas supplies commensurate with the outstanding amount.
It is noted that the Russian company could get $130 million in additional revenue after the cancellation of previously provided discount for natural gas supplies to Turkey, the newspaper writes.