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Turkish fuel company confirms fact of negotiations on selling part of its share to SOCAR

Oil&Gas Materials 23 July 2013 12:06 (UTC +04:00)

Azerbaijan, Baku, July 23/ Trend A.Taghiyeva/

Turkey's fuel distribution network PMV Petrol Ofisi is holding negotiations with SOCAR (State Oil Company of Azerbaijan) about getting a part of share of POAIR company, which is the air filling subdivision of the OMV Petrol Ofisi network, the OMV Petrol Ofisi told Trend on Thursday.

The company hasn't determined which package of share does SOCAR intends to get.

According to the report, around 41.58 percent of POAIR's share fells to Australian company OMV, about 55.4 percent to the Holding of OMV Petrol Ofisi, about 3.02 percent of shares is in free circulation in stock exchange.

POAIR company owns nearly 100 terminals for aircraft refueling in the airports of Istanbul, Ankara, Antalya, Izmir and Mugle. These terminals serve nearly 240,000 planes per year.

Currently, SOCAR is engaged in construction of Star oil processing plant in Turkey, as well as, is interested in energy distributing networks of the country. In particular, the Energy Market Regulatory Authority of Turkey (EPDK) has licensed SOCAR Gaz Ticareti A.S on the distribution of gas in the country.

The license is granted for a period of 30 years. The company will distribute around 700-800 million cubic meters of gas imported to Turkey from Azerbaijan per year.

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