Azerbaijan's SOCAR chooses Ramsey fuel distribution partner in Turkey
Azerbaijani state Oil Company SOCAR has determined its partner on fuel distribution in Turkey's domestic market, the Hurriyet newspaper reported.
SOCAR's partner will be Turkish clothing company Ramsey. According to the newspaper, SOCAR and Ramsey will establish three joint companies: gas distribution company SOCAR Turkey Gaz Dağıtım, petroleum distribution company SOCAR Turkey Petrol Enerji Dağıtım and electricity producing company - SOCAR Power Enerji.
Earlier on Jan.10, 2013, the Energy Market Regulatory Authority of Turkey (EPDK) has issued a license to SOCAR for fuel distribution in the country's domestic market.
Also earlier SOCAR received a license for wholesale of gas in the country's domestic market.
The license is granted for a period of 30 years. It was previously agreed with the Turkish side on acquiring and subsequent sale of gas in the amount of 1.2 billion cubic meters per year in Turkey.
SOCAR is the only oil producer in the country. It owns two refinery plants as well as gas stations in Azerbaijan, Georgia, Ukraine and Romania. In addition the state oil company acquired a retail network in Switzerland. SOCAR is co-owner of the largest Turkish petrochemical complex Petkim.
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