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Turkey cuts natural gas prices to 10%

: 2016-10-04

Turkey cuts natural gas prices to 10%
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On the sidelines of the visit of Energy Minister Berat Albayarak to the Turkish Energy Market Intelligence (TEMI), Albayarak announced the decision of the Ministry of Energy to reduce natural gas prices by 10% from the first of the ongoing October. He emphasized that this reduction came after the International Court of Arbitration decision in favor of Turkey to reduce the price of the Iranian gas exported to Turkey.

The Turkish Government is considering the electricity price reduction

Albayarak declared that reducing the natural gas prices is reflected on the income of a large part of the population since it is used widely for home heating during the winter. Moreover, it will contribute to reduce the industrial production costs and raise the level of competition, which will reflect broadly on all sectors.

On the other hand, Albayarak ruled out any rise in the electricity prices, stressing that the ministry is working to reduce the electricity prices in the coming period since reducing the natural gas prices will reduce the production costs.

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