A National Iranian Oil Company (NIOC) official said Tehran and Ankara are in talks to settle their differences over gas price while Iran has announced its readiness to raise exports to Turkey.
NIOC's Director of International Relations Azizollah Ramezani referred to Turkey's claims about the high price of gas imported from Iran and added that the two countries are in talks to settle the issue within a month, Fars News Agency reported.
"If Turkey buys bigger volumes of natural gas which Iran is ready to export, it can pay receive it at lower cost," he noted.
Iran signed a contract in 1996 with Turkey to export 10 bcm of gas for 25 years with 30 mcm supplied daily.
The pipeline was launched in 2002 with Iran pumping 8 bcm of Turkey's 40 bcm annual demand in 2013, while 30 bcm is provided by Russia.
In August, Deputy Oil Minister for International Affairs and Commerce Amir-Hossein Zamani-Nia said, "The lifting of sanctions will create a new atmosphere and the ongoing dispute will possibly be settled and more Iran gas will be exported to the neighboring country."