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RUSSIA: TURKEY MULLS BLUE STREAM ARBITRATION.(to consider international arbitration if it fails to resolve its differences with Russia's Gazprom over the price of natural-gas shipments to Turkey via the Blue Stream pipeline)(Brief Article)
IPR Strategic Business Information Database, June, 2003
Turkish Energy Minister Hilmi Guler said on 27 May that his country would consider international arbitration if it fails to resolve its differences with Russia's Gazprom over the price of natural-gas shipments to Turkey via the Blue Stream pipeline, AFP reported the same day. Russian Deputy Foreign Minister Viktor Kalyuzhnii shot back that "Turkey...is constantly demanding price cuts," Anatolia news agency reported. The $3.2 billion, 1,213-kilometer pipeline beneath the Black Sea became operational in February. Turkey halted deliveries through the pipeline on 12 March after Botas, Turkey's state-run gas company, failed to extract a price reduction from Gazprom, "Kommersant" reported on 28 May. On 1 July, the contract between Botas and Gazprom enters its "take or pay"...
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