SOCAR Turkey signs a contract for purchase of EWE Turkey Holding member companies


June 18, Fineko/ SOCAR Turkey Energy has signed an agreement with an anonymous company on the acquisition of companies Bursagaz, Kayserigaz, Enervis, EWE Enerji and Millenicom (all the companies are members of EWE Turkey Holding), that run operations of German energy company EWE AG in Turkey.

SOCAR Investment Department’s head and SOCAR Turkey’s chairman of board Vagif Aliyev said that the acquisition of Bursagaz and Kayserigaz will add to the value chain of natural gas to Turkey.

"We attach great importance to the integration of all our investments, with taking into account the dynamics and productivity of the sector in which we operate since our entering into the Turkish market. We’ve been transporting natural gas to Turkey for 12 years, and we’ve been carrying out wholesale sales of natural gas since 2013. We are the largest partner of the TANAP Project. With the entry of Bursagaz and Kayserigaz into the structure of SOCAR Turkey, we begin to act in the field of natural gas distribution," Aliyev emphasized.

He also voiced confidence that Millenicom (a company operating in the telecommunications sector) will create synergy with SOCAR Fiber Project, being implemented in parallel with TANAP.

Aliyev stressed that SOCAR has been operating in this sphere in Azerbaijan for many years, also in Georgia, with the exception of Tbilisi.