ECONOMY


Petkim intends to become TANAP shareholder

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Baku, June 3, AZERTAC 

SOCAR Turkey Enerji intends to become shareholder of TANAP by the end of this year, SOCAR Turkey Enerji CEO Zaur Gahramanov told the journalists. “Of course this process may be delayed. Turkish side must consent to this. Azerbaijani side has already given consent”, he added. SOCAR Turkey Enerji intends to buy SOCAR’s 7%-stake in TANAP.

He also said that, SOCAR Turkey Enerji plans an Initial Public Offering in 2020. Gahramanov noted that there is a great interest in shares of SOCAR Turkey Enerji, and it is very beneficial. Thus, in 2020, the company will offer IPO. According to the General Manager, implementation of the IPO will depend on the market conditions. The utmost goal is to make SOCAR Turkey Enerji an open company by retaining SOCAR’s majority stake- at least 51 percent, and the rest of the shares will be open to the market, stated Gahramanov.

SOCAR is the largest investor in Turkey’s economy. Its total investments in Turkey exceed $20 billion for the period 2008-2018. It will be Azerbaijan’s largest investment abroad by 2020.

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