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English Last updated 11:37
28.05.2003
The Blue Stream goes to arbitrage

Energy Minister Hilmi Guler said that they spent efforts to solve the price problem in the Blue Stream Project and the issue could be taken up in the framework of the international arbitration.

Guler said that they preferred to come to an agreement with mutual negotiations rather than arbitration. Turkey wants to set price in a lower rate, but Russia refuses to reduce the price.

At the Caspian & Black Sea Oil and Natural Gas Summit, Russian Deputy Foreign Minister Victor Kaluzhny complained that Turkey did not fulfill her responsibilities mentioned in the contracts and continuously asked for the reduction of price. Guler told journalists after this statement of the Russian official that Turkey carried out the project in normal conditions.

 


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