Azerbaijan and Turkey have agreed until 2018 on the price for gas produced as part of the first stage of development of the Shah Deniz field.
Turkey's energy and natural resources minister, Taner Yildiz, told journalists that agreement had been reached during recent talks between the two countries, Aksam newspaper reported.
He said that Turkey had pressed its advantage in the talks on prices for gas from the second, larger, stage of development of Shah Deniz.
"The revised price for Shah Deniz I gas has been settled with Azerbaijan until 2018. As for Shah Deniz II, we have tried to create a good price in regional terms. A good structure has been created for gas to flow to Turkey from 2018; we have ensured a more advantageous price," the minister said.
He declined to give any figures, however.
Azerbaijan and Turkey signed gas purchase, sale and transit deals in Izmir on 25 October.
Details of the agreements have not been made public, but they are thought to allow for the transit of 10 billion cubic metres of Shah Deniz II gas to Europe and the sale of an additional 6bn cubic metres to Turkey.
Taner Yildiz said that Greece had agreed to repay its gas debt of $300m to Turkey by the end of January 2012, Aksam reported. The debt was incurred on Shah Deniz 1 gas, sold by Turkey to Greece.