Turkish company refused to pay to “Gazprom”

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www.vsyako.netPhoto: Vitaly Timkivi / RIA Novosti

Debt of a number of Turkish companies to “Gazprom” reached two billion dollars, and repay it, they refused, according to The Wall Street Journal, citing sources familiar with the situation.

According to them, there are seven companies with long term contracts on a “take or pay”. Last year, they chose only 15 percent of the agreed volumes, and therefore do not have the means to pay.

Currently, the debtors are consulting with the Russian export monopoly, but it is possible that the negotiations will have to transfer to the state level.

For 2019 deliveries of “Gazprom” in Turkey fell by 35 percent in annual terms, to 15.51 billion cubic meters. The reason for such dynamics was abnormally warm winter, and increase purchases from Azerbaijan and from suppliers of liquefied natural gas (LNG).

In the beginning of 2020, this trend continued. In particular, in March, the Azerbaijan visited Russia on gas supplies. Also, a large share of Iran, Qatar and Algeria. Purchases of LNG from the US is almost on par with the Russian share in the Turkish market.

All in all, the March delivery of Russian gas to Turkey fell seven times compared to the same period last year with 1,418 billion to 210 million cubic meters. This happened despite the launch of the “Turkish stream” in the beginning of the year.

Delivery under a “take or pay” stipulated that clients “Gazprom” is obliged to pay for a certain amount, even if they don’t want. Previously, the requirement to return form thus the debt has led to the abandonment of contracts with Ukraine. After that, according to the decision of the Stockholm arbitration, the Russian company had to pay a fine in the amount of about three billion dollars, and also to forgive the supply of gas worth about two billion.

Video, photo All from Russia.

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