Gazprom may lose its biggest Turkish gas importer - media

Gazprom may lose its biggest Turkish gas importer - media

Russia's Gazprom may lose its biggest asset in Turkey, the Moscow Times reports with reference to the Kommersant newspaper.

The Turkish authorities took over the Akfel holding – the country’s largest private gas importer – in early December.

The holding owns Akfel Gas, Avrasia and Enerco, all of which hold contracts with Gazprom.

The Russian firm provides the companies with 5.25 billion cubic meters of gas each year, making up approximately a fifth of all Russian gas deliveries to the county.

The Akfel Holding and Gazprombank own a 60% joint venture in both Avrasia and Enerco overall. The Gazprom group also owns a minority stake in the Akfel Holding itself.

Gazprom’s shares have been in limbo since the takeover despite Russian negotiation attempts, Kommersant reported. The Turkish Deposit Insurance Fund (TMSF) then reached out to shareholders informally, telling them that the state organization would be “taking over" the shareholder role, several unnamed sources told Kommersant.

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