BAKU, Azerbaijan, January 10. SOCAR Türkiye has finalized the sale of its gas distribution companies, Bursagaz and Kayserigaz, Trend reports citing AKSA Doğalgaz, the new owner of the two companies.
Bursagaz and Kayserigaz collectively provide natural gas distribution services to approximately 2 million subscribers.
SOCAR Türkiye CEO Elchin Ibadov stated that the decision to sell Bursagaz and Kayserigaz aligns with the company's long-term strategic goals.
"We have invested approximately $18.5 billion, making us the largest direct foreign investor in Türkiye. We will continue to create value in this country for many years through our strategic investments," Ibadov said.
SOCAR Türkiye began its operations in Türkiye in 2008 after acquiring a 51% stake in Petkim. The company focuses on petrochemical production, refining, trading, and natural gas distribution.
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