ECONOMY


SOCAR establishes new company in Turkey

Baku, June 19, AZERTAC

SOCAR Turkiye Dogalgaz Yatirim company has been established after SOCAR Turkey acquired EWE Turkey Holding’s gas assets Bursagaz, Kayserigaz, Enervis, EWE Enerji and telecommunications company Millenicom.

Gunter Seymus, who previously held various positions at Petkim petrochemical complex and the STAR refinery, has been appointed the head of the company.

On June 17, SOCAR Turkey Energy A.S (STEAŞ) completed the purchase of the shares of the German energy giant EWE Turkey Holding, subsidiary of EWE, in Bursagaz, Kayserigaz, EWE Enerji, Enervis and Millenicom companies.

SOCAR Turkey is a subsidiary of the SOCAR-State Oil Company of Azerbaijan and has been the largest foreign investor in Turkey with USD 15 billion of investments since 2008.

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