Azerbaijan refuses to acquire Turkish assets of German EWE

18 January 2019 17:33 (UTC+04:00)

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The Azerbaijan state oil company SOCAR has refused to invest in Turkish assets of the German energy company EWE, SOCAR told Trend on Jan. 18.

"We decided not to invest in these assets, but we may consider the possibility of acquiring assets in Turkey and in other countries," the company said.

SOCAR may complete the purchase of EWE’s Turkish assets in the first quarter of 2019. The matter rested in a stake in four companies, namely, Bursagaz, Kayserigaz, EWE Enerji and Enervis, which belong to EWE Turkey Holding, the Turkish media reported earlier.

The decision on the possible sale of its assets in Turkey is connected with the optimization of the company's activity, EWE told Trend earlier.

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, while the annual export potential reaches $3 billion. Among SOCAR’s current assets in Turkey are the Petkim petrochemical complex, STAR refinery and Petlim port.

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