Turkey-Gazprom negotiations held in vain

Talks between Gazprom and Turkish policymakers held last week resulted in nothing, Gazprom Deputy CEO Yury Komarov reported at a briefing today. According to him, Gazprom and Turkey have certain contractual obligations. He mentioned as an example that if Turkey did not take the stated volumes of gas until July 1, 2003, it would have to fulfill the so-called take or pay contractual conditions. Gazprom will continue negotiations with Turkey until the end of June, Komarov noted.

The Gazprom's official is of the opinion that Turkey overestimated the gas demand of its market from the very beginning. He emphasized that although Gazprom was ready to make certain concessions in order to settle the problem, the Turkish demand to reduce prices for gas supplies could not possibly be met as the company had credit obligations to fulfill.

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