Bloomberg News

Turkey to Extend Russian Gas Contract Via Western Line to June

December 01, 2011

Dec. 1 (Bloomberg) -- Turkey extended a contract to buy Russian natural gas through a western pipeline to June 5, according to a cabinet decision published today in the Official Gazette in Ankara.

Turkey is encouraging non-government companies to agree with OAO Gazprom to import gas through the pipeline, replacing the state gas distributor, Botas Boru Hatlari ile Petrol Tasima AS. The energy market regulator on Nov. 23 gave 26 Turkish and international companies 10 days to make contracts with Gazprom in order to win import licenses.

Botas didn’t renew its 25-year contract with Gazprom to import 6 billion cubic meters of gas a year after failing to secure a price cut earlier this year. The pipeline runs via Ukraine, Moldova, Romania and Bulgaria.

Turkish Energy Minister Taner Yildiz is visiting officials in Russia today, according to state news agency Anatolia.

--Editors: Torrey Clark, Rob Verdonck

To contact the reporter on this story: Steve Bryant in Ankara at sbryant5@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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