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Wednesday April 17 2024

SOCAR announces investments amount made in two cities of Turkiye

4 March 2024 16:14 (UTC+04:00)
SOCAR announces investments amount made in two cities of Turkiye

SOCAR Turkiye, a subsidiary of the State Oil Company of Azerbaijan (SOCAR) in Turkiye, invested $170 million in the gasification of the cities of Kayseri and Bursa in 2019-2023, Azernews reports, citing the Turkish press.

Fuad Ibrahimov, head of the Natural Gas Business Department of SOCAR Turkiye, said that these investments were made in the activities of Kayserigaz and Bursagaz companies.

He noted that the total number of Bursagaz and Kayserigaz subscribers reached 1.9 million in 4 years.

"A total of 1.2 million of these subscribers fell to Bursagaz, which makes the company the 4th largest gas distribution company by the number of subscribers. The length of the company's gas network in 11 districts of Bursa city has reached 7,561 kilometers. The total number of subscribers of Kayserigaz company reached 700 thousand. The total length of the gas network in Kayseri is 6,675 kilometers. With our new investments, the number of subscribers will increase. The total number of subscribers to Kayserigaz has reached 700,000. The total length of the gas network in Kayseri is 6,675 kilometers. With our new investments, the number of subscribers will increase," Ibahimov said.

Noting that Bursa and Kayseri are two of the most famous cities in Turkiye, Ibrahimov added that SOCAR is intensively continuing network investments in this direction and increasing the number of subscribers day by day.

"We believe that Bursagaz and Kayserigaz together will increase the length of the gas network to 14,770 kilometers by the end of 2024."

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