SOCAR Gaz intends acquiring 20 per cent of Turkey’s gas market
Azerbaijan, Baku, 12 March / Trend A.Taghiyeva /
SOCAR Gaz Ticareti A.Ş, established by SOCAR Turkey Enerji for the distribution of gas in Turkey's domestic market, is going to acquire a 20 per cent stake in the country's gas market, the head of SOCAR Turkey Enerji, a board member of Petkim Petrochemical Holding Kenan Yavuz told Trend on Tuesday.
According to Yavuz, SOCAR Gaz will become an important source of alternative supply of gas to Turkey's domestic market.
Yavuz said the company started importing Azerbaijani gas to Turkey in January 2013 to the amount of 1.2 billion cubic meters per year.
Azerbaijani gas imported by SOCAR Gaz is the most beneficial for Turkey's domestic market, he said.
In January of this year, the Energy Market Regulatory Authority of Turkey (EPDK) issued a licence to SOCAR Gaz Ticareti A.Ş for gas distribution in the country.
Earlier, in November 2012, SOCAR Turkey Energy in cooperation with the Turkish gas company Çığ Enerji established SOCAR Gaz Ticareti AŞ for gas distribution in Turkey's domestic market.
The licence is granted for a period of 30 years. The company will distribute 700-800 million cubic meters of gas imported into Turkey from Azerbaijan. According to Yavuz, 400-500 million cubic meters of imported gas will be used for production in the Petkim complex, while the remainder will be sold on Turkey's domestic market.