Caspian Energy Journal Caspian European Club
Thursday, 31 January 2019 11:00

SOCAR Turkey to supply gas to Kayseri and Bursa

SOCAR Turkey to supply gas to Kayseri and Bursa

Turkey's largest foreign investor, SOCAR, has acquired EWE Turkey Holding and its group of companies, which manages the operations of the German energy company EWE AG in Turkey, Caspian Energy News ( reports with reference to the press statement of SOCAR.

“The purchase of this natural gas distribution business will complete our investment chain in Turkey, creating additional value for Azerbaijan and Turkey,'' said Rovnag Abdullayev, President of SOCAR.

SOCAR aims to become a major industrial actor in Turkey through the wide range of investment projects and acquisitions. In the next step SOCAR acquired Bursagaz, Kayserigaz, Enervis, EWE Energy and Millenicom, the companies within EWE Turkey Holding. SOCAR has been supplying natural gas to the Turkish market for the last 12 years and began expanding its operations this year through the Trans Anatolian Natural Gas Pipeline (TANAP), a major joint project between Turkey and Azerbaijan. The acquisition of EWE Turkey will enhance the value of the natural gas distribution sector and create favorable conditions for SOCAR to access directly the end customer market in Turkey.

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Person in charge of the newsline: Olga Nagiyeva 

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