Russia's Gazprom Seeks to Acquire Turkish Natural Gas Importer

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Researched by Industrial Info Resources (Sugar Land, Texas)--Russian state-owned natural gas exporter OAO Gazprom (PINK:OGAZPY) (Moscow, Russia) has applied to Turkey's Competition Authority to acquire Turkish natural gas company Akfel Gaz (Istanbul). The filing was made by Gazprom Schwiez, a subsidiary of OAO Gazprom. Akfel Gaz has a natural gas import licence, which is important for market players.

Akfel Gaz shares are currently held by Turkish investors Murad Abdurrahman Baltaci, Melike Baltaci and Mehlika Betul Baltaci, who also own Akfel Holding (Istanbul, Turkey).

Turkey's Energy Market Regulatory Authority (EMRA) allowed four Turkish companies to import natural gas from Russia in 2012. Akfel Gaz, Bosporus Gaz, Kibar Enerji and Batý Hattý Dogalgaz each obtained 30-year licenses. Akfel Gaz can import 2.25 billion cubic meters (bcm) of gas, followed by Bosporus Gaz, with 1.75 bcm. Kibar Enerji and Batý Hattý Dogalgaz each have 1 bcm import licences.

The Akfel Group also has an agreement with a Swiss trading house, Gunvor, which was cofounded by Russian billionaire Gennady Timchenko and Swedish investor Torbjörn Törnqvist, and has an annual return of more than $95 billion. Together, Akfel Group and Gunvor established Akfel Gunvor Energy.

Market watchers said that the liberalization of Turkish natural gas sector and planned privatization of Istanbul Dogal Gaz Dagitim AS (IGDAS) will generate interests from foreign companies. Previously, Azerbaijan's state-owned energy company, SOCAR (Baku, Azerbaijan), said that it did not plan to bid for IGDAS.

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