Gazprom Accused of Using Gas Prices to Pressure Turkey

Russian energy major Gazprom has drawn the criticism of Turkish oil major BOTAS, which alleges that the Kremlin-supported entity has been using price increases to put pressure on Turkish firms.  Officials from private Turkish oil and gas firms have expressed similar discontent with Gazprom, which they accuse of raising gas prices in order to induce Turkish gas companies into putting pressure on Ankara to make a lopsided deal that favors Russia. Turkish officials have also pointed to recent drops in oil and gas prices and note that price increases do not mirror the global price of natural gas.

Turkey is currently in negotiations with Russia to reduce the price of Russian natural gas, and has tentatively agreed to partner with Russia in developing a submarine pipeline that will funnel Russian natural gas underneath the Black Sea and into Turkey, presumably on its way to European markets. Gazprom offered a 6% discount in natural gas prices to Turkish negotiators, though Ankara is currently vying for a more significant discount.

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News Briefs:

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