Azerbaijan is ready to supply Turkey with energy resources at affordable prices, Azerbaijani Energy Minister Natig Aliyev said, Turkish online newspaper Malatya Guncel reported on Feb. 8.
The minister said Azerbaijan and Turkey are bound by major economic projects that will be implemented in the future.
He also added that, at present Azerbaijan possesses gas reserves of about three trillion cubic meters.
"Azerbaijan develops and strengthens its economy and the country's products are expected to go to the European markets," Aliyev said.
Under the contract Azerbaijan will annually export 6.6 billion cubic meters of gas to Turkey, the minister added.
In 2013, the Turkish state pipeline company Botas imported 38.42 billion cubic meters of gas from various sources, as compared to 43.09 billion cubic meters in 2012.
Gas prices are not officially disclosed, but according to Turkish media, Turkey buys Iranian gas at $490 per thousand cubic meters. Turkey pays $335 for one thousand cubic meters of Azerbaijani gas, which is supplied via the South Caucasus Pipeline (Baku-Tbilisi-Erzurum pipeline).
The country pays $425 for one thousand cubic meters of the Russian gas. Over 37.96 billion cubic meters of gas was sold in Turkey's domestic market in 2013 as compared to 41.44 billion cubic meters in 2012.