SOCAR eyes shares in Turkish gas distribution network
Azerbaijan's state oil company SOCAR plans to acquire some shares in Istanbul's gas distribution network İGDAS, SOCAR Turkey Energy head, and board member of the Petkim petrochemical complex Kenan Yavuz said in an interview with the Turkish edition Para Dergisi.
He said that SOCAR intends to offer a reasonable price to purchase a part of the gas distribution network.
The tender for selling 90 per cent of İGDAS shares, planned to be held in May 2012, was postponed for an uncertain period. Foreign and local companies are allowed to participate in the tender.
SOCAR is the only producer of oil products in the country, and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland and is the co-owner of the largest Turkish petrochemical complex Petkim.
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