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Gas contracts between Ankara, Moscow take global price volatility into account – Turkey

Turkish Minister of Energy and Natural Resources Fatih Donmez spoke about the existence of "very long-term contracts" between the two countries

ANKARA, January 3. /TASS/. Turkey and Russia have signed long-term contracts for natural gas supplies taking global price volatility into account, Turkish Energy and Natural Resources Minister Fatih Donmez told TVNET television channel on Monday.

"We have very long-term contracts signed with Russia, but I cannot disclose the details, because these are commercial issues. But certainly, there are provisions in those contracts that cover a price increase on global markets. Not only our agreements, but all contracts with gas exporters include this," he said.

Depending on price fluctuations in global energy markets, countries, including Turkey and Russia, have been regularly renegotiating prices and other price setting issues, the Turkish minister added.

According to Donmez, Ankara would have been forced to look for other natural gas suppliers, had it joined the anti-Russian sanctions. "As you know, Russia has published a list of unfriendly countries in the wake of sanctions imposed on it. If we had joined those sanctions, we would have been blacklisted, too, and we would have been looking for alternative gas imports," he said.

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