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Fri 1 Jun 2007 12:00 AM

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Iran and Turkey settle row over gas supplies

Iran and Turkey have reached a key stage on agreeing gas contract revisions that will favour Turkey, according to Turkish energy ministry deputy undersecretary Bekir Aksoy.

Iran and Turkey have reached a key stage on agreeing gas contract revisions that will favour Turkey, according to Turkish energy ministry deputy undersecretary Bekir Aksoy.

Turkey has brought its contract with Iran before an international arbitration court. This was due to reports of poor quality, low pressure and frequent cuts in the supply of gas.

Aksoy said changes made to the contract could be similar to those Turkey made to its contract with Russia in 2003, when the country lowered the agreement's buy-or-pay threshold from 85% to 70%.

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