SOCAR Gaz Ticareti A.S to have new partner

Oil&Gas Materials 29 April 2013 20:17 (UTC +04:00)

Azerbaijan, Baku, April 29 / Trend, A. Taghiyeva /

SOCAR Gaz Ticareti A.S, with its license for gas distribution on the Turkish market, will have a new partner, SOCAR Turkey Enerji told Trend on Monday.

SOCAR Gaz Ticareti A.S was established by SOCAR Turkey Enerji together with the Turkish company CIG Enerji. The company's share was distributed as follows: 70 percent are owned by SOCAR Turkey Enerji A.S, while 30 percent - CIG Enerji.

One of the companies included in Kalyon İnsaat holding - Ar Enerji will be a new partner of SOCAR Gaz Ticareti A.S.
Ar Enerji plans to acquire 40 percent of Cıg Enerji company's shares.

There is no information about the cost of the deal and the date of its conclusion.

The Turkish Energy Market Regulatory Authority issued a license on gas distribution to SOCAR Gaz Ticareti A.S in January 2013.

The license was issued for 30 years. The company will annually distribute 700-800 million cubic meters of gas imported from Azerbaijan to Turkey. Earlier, head of SOCAR Turkey Enerji, a board member of Petkim Petrochemical Holding Kenan Yavuz, around 400-500 million cubic meters of imported gas will be used in the production of Petkim complex, and the remaining part of gas will be sold on the Turkish domestic market.