100% of SOCAR Turkey LNG shares sold


February 7, Fineko/abc.az. 100% of SOCAR Turkey LNG’s shares have been sold.

According to Turkish media, Naturelgaz (Turkey) accepts operations on the distribution of liquefied natural gas (LNG) and compressed natural gas (CNG) from SOCAR Turkey. So, Naturelgaz signed a contract for purchase of 100% of the shares of SOCAR Turkey LNG. The contract was signed by Naturelgaz’s general manager Hasan Tahsin Turan and SOCAR Turkey’s internal sales & marketing director Fuad Ibragimov.

The procurement operation will be completed after the approval of the relevant Turkish institutions. Then it is planned that Naturelgaz and SOCAR Turkey LNG will work as part of Naturelgaz.

Naturelgaz delivered 167 million cu m of CNG in 2019. Last year CNG and LNG deliveries by SOCAR Turkey LNG totaled 35.4 million cu m.

Since May 2008 SOCAR has continued its activities in Turkey under the name SOCAR Turkey Enerji.