"The ruling is different from what Turkey was after," said Zangeneh.
In its first complaint, the Iranian official said, Turkey had tried to win a 25% reduction in the price of gas from Iran for instability of supplies which ended in favor of Tehran.
There was an appeal by Turkey for 37.5% reduction in the price which had Iran reduce 13-15% of the price, said Zangeneh.
He declined to announce the exact amount of the penalty, saying it was confidential.
"Turkey will not be able to ask for any reduction or change in the prices for the next couple of years."
During a visit to Tehran, Turkish President Recep Tayyip Erdogan had called for a 40% cut in the price of gas imports from Iran which ended to Ankara's complaint to the International Court of Arbitration.
"I believe that the court's ruling is acceptable [for Iran]," said Zangeneh.
Iran must supply Turkey with an about 10 billion cubic meters per year under a 25-year deal signed in 1996. Last year, Iran exported 9.6 bcm to Turkey.
In April 2015, Turkey turned down a proposal from Iran for doubling its gas imports from the Islamic Republic in exchange for a gas price cut.
Iran owns the world’s largest natural gas reserves after Russia, and is also Turkey’s second biggest gas supplier after Russia.
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