SOCAR expects to distribute 4 bcm of gas to consumers in Turkey from 2020

By  Trend

Azerbaijan’s state oil company SOCAR expects to be distributing 4 billion cubic metres of gas to consumers in Turkey from 2020, Zaur Gahramanov, head of SOCAR Turkey Energy, told Reuters, Trend reports.

Gahramanov said that SOCAR had been given final permissions for the acquisition of natural gas distributing networks in the Turkish industrial cities of Kayseri and Bursa from Germany's EWE Turkey Holding on 27 May and would finalise the deal by mid-June.

Gahramanov said that gas supplies from Azerbaijan's giant Shah Deniz field to Turkey through the Trans-Anatolian Pipeline (TANAP) would reach 3 billion cubic meters in 2019 and would double from 2020.

EWE Turkey Holding sold its assets, namely Bursagaz, Kayserigaz, Enervis, EWE Enerji and Millenicom, to Azerbaijan’s SOCAR in early 2019.

Earlier, EWE AG told Trend that the decision on the possible sale of its assets in Turkey is related to the optimization of the company's activity.

EWE Turkey Holding has been operating in Turkey since 2007 and it is the fourth biggest supplier of natural gas in Turkey. In 2017, the company’s turnover amounted to almost 2.4 billion Turkish liras.

SOCAR is represented in Turkey by its subsidiary SOCAR Turkey Energy. So far, SOCAR Turkey Energy has invested over $14 billion in the Turkish economy. Meanwhile, 5,000 people work in the company, and its the annual export potential reaches $3 billion. Among SOCAR’s current assets in Turkey are the Petkim petrochemical complex, the STAR refinery and the Petlim port.