Turkish gas distribution network to be put up for privatization in May

Oil&Gas Materials 31 January 2012 21:18 (UTC +04:00)

Azerbaijan, Baku, Jan.31 /Trend A.Taghiyeva/

The tender for the sale of the shares of the Turkish gas distribution network of Istanbul, İGDAŞ, will begin in May 2012 after the privatization of gas distribution company Baskent Doğal Gaz (Ankara), the company told Trend on Tuesday.

The tender, which was postponed several times previously, was put up for 90 percent of the shares sale. Both foreign and local companies are allowed to participate in the tender.

"Conditions of the tender for the interested in buying shares in our company will be announced in the near future," İGDAŞ said.

SOCAR Turkey Enerji (Turkish division of SOCAR) might be interested in participating in the tender for the acquisition of İGDAŞ shares the managing director of the company Kenan Yavuz said.

Earlier, SOCAR has received a license for gas gross sale in domestic market of Turkey.
The license was granted for a period of 30 years by a group, controlling the energy market in Turkey.

The agreement on the acquisition and subsequent sale of gas in the volume of 1.2 billion cubic meters a year to Turkey was reached before. Most of the gas will be delivered to a petrochemical complex Petkim, where SOCAR has a stake, and the remaining amount will be sold to consumers in the domestic market of Turkey.