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Legal proceedings between Turkey and Iran over gas prices continues, and Iran is likely to reduce the price of gas exported to Turkey, the The Lira newspaper quotes Turkish Energy and Natural Resources Minister Taner Yildiz as saying on Monday.

As Trend reports, Yildiz said that Iran offered certain discount in gas price, but it did not suit Turkey, and the country seeks to achieve the price that itself defined. Yildiz also expressed confidence that if Iran does not agree to a major discount in price, International Arbitration Court will resolve this case in favor of Turkey. In 1996, Iran and Turkey signed an agreement to supply 10 billion cubic meters of gas to Turkey annually (30 million cubic meters per day).