Türkiye approves SOCAR’s subsidiary for spot gas supplies

The Turkish Energy Market Regulatory Authority has approved SOCAR Enerji Ticaret A.S. (a subsidiary of SOCAR) to reserve capacities for spot gas supplies to Türkiye in November 2024.

This decision was made by the regulator following a tender conducted by the Energy Market Regulatory Authority, Caliber.Az reports, citing the Energy Market Regulatory Authority.

SOCAR Enerji Ticaret A.S. has been granted the right to reserve capacities for spot gas supplies in November, amounting to 1,863,000 cubic metres. The company will supply gas from the Türkgözü entry point, located in the Turkish northeastern Ardahan province.

SOCAR Enerji Ticaret A.S. also secured the right to reserve capacities for spot supplies in October, amounting to 1,863,000 cubic metres.  

In 2008, SOCAR began its operations in friendly Türkiye by purchasing a 51 per cent stake in Petkim, the nation's first and only integrated petrochemical complex. 

The activities of SOCAR Türkiye and its affiliated companies encompass the import, wholesale, and retail of crude oil and natural gas, natural gas distribution, as well as the production and sale of petrochemical products. Since its entry into the Turkish market, SOCAR Türkiye, in collaboration with its business partners, has invested a total of $17.6 billion in the Turkish economy. 

The group companies, including Petkim, STAR Oil Refinery, SOCAR Terminal, SOCAR Depolama, and Petkim Wind Power Plant, are situated in the Aliaga region of Izmir. TANAP Pipeline, Bursagaz, Kayserigaz, Enervis, and SOCAR Enerji Ticaret focus on the transportation and distribution of natural gas. 

Moreover, SOCAR Ticaret operates petrol stations, while Millenicom and SOCAR Fibre handle communication and telecommunications. The construction company SCR Gayrimenkul also plays a significant role in SOCAR Türkiye's portfolio.

By Naila Huseynova