Azerbaijan's state-run oil and gas company SOCAR has acquired the Turkish natural gas supplier EWE Turkey Holding from its parent company, the German energy firm EWE. The acquisition will be reviewed by several Turkish governmental bodies: the Competition Authority, the Energy Market Regulatory Authority and the Information and Communication Technologies Authority.
EWE Turkey Holdings belongs to the top five gas suppliers in Turkey and manages several sales and transport activities in the Turkish gas market through 80% majority stakes in the regional gas suppliers Bursagaz (Bursa and Greater Istanbul region) and Kayserigaz (Kayseri region). Through its third subsidiary EWE Enerji, it manages long and short-term gas procurement contracts and handles an annual volume of 2.7 bcm of natural gas for industrial customers.
SOCAR has been selling gas to Turkey since 2013 and is involved in the TANAP (Trans Anatolian Natural Gas Pipeline) project, which came onstream in 2018. With the acquisition of EWE Turkey Holding, it plans to increase its presence in the Turkish gas supply chain.
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