Turkish Botas to be divided into three parts

Oil&Gas Materials 26 September 2012 14:04 (UTC +04:00)

Azerbaijan, Baku, Sept. 26 / Trend A. Taghiyeva /

The Turkish Company for Oil and Gas Transit (BOTAS) will be divided into three separate state agencies, Anadolu agency said on Wednesday.

The decision was made by the Turkish Ministry of Energy and Natural Resources.

According to the decision, BOTAS will be divided during the year into a shipping company, a company exploiting gas liquefaction plants and a company for the storage of energy resources.
BOTAS income in 2011 rose to 26.6 billion lira compared to 17 billion lira in 2010, the company's report said.

The companies' revenues from domestic sales totalled 25.7 billion lira while the company's sales abroad were 857 million lira. Losses for the period totalled 1.5 billion lira compared to 490 million lira in 2010.

The official exchange rate is 1.7859 TRY/USD on Sept. 26.