ANKARA - The sides failed to reach and agreement at the negotiations, which were started after Russian Gazexport Company requested a higher price under the Blue Stream Project by claiming that price setting formula in the contract was wrongful.
Releasing a statement, the Ministry of Energy and Natural Resources said on Friday, ''we informed Gazexport that it was impossible to meet its request about price setting formula. When Gazexport applied to Turkey with a proposal changing prices for a certain period of time, Pipeline Transportation Corp (Botas) had the opportunity of presenting a counter proposal.''
''The negotiations were interrupted since the sides needed time to reach a compromise,'' it said.
The statement noted, ''under the Blue Stream Project Contract, the Botas gave the necessary response to arbitration proceeding started by Gazexport. In parallel with the negotiations, necessary proceedings have been started after notification of an arbitrator. Western pipeline natural gas coming from Bulgaria has not been included in these proceedings.''
''Our basic target is to improve relations between Turkey and Russia in line with benefits of our country,'' the statement added.
(UK-AÖ) 27.06.2003