 Turkish Energy Market
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Lukoil buys Turkey's Akpet for $500 mln
Russian oil major Lukoil agreed to buy Turkish fuel distributor Akpet for $500 million on Monday, securing 5% of Turkey's oil product retail market as it continues its downstream expansion. Lukoil, Russia's second-largest oil producer, plans to double its Turkish market share to 10% within a decade after acquiring eight oil product terminals with total capacity of 300,000 m³, company president Vagit Alekperov said.
Energy company AREVA T&D to invest $105 mln in Turkey
AREVA, one of the world's leading energy transmission and distribution companies, has decided to spend $105 million to expand their operations in Turkey by constructing a new factory that will create employment for an additional 600 people.
Turkey has world’s 7th largest potential in geothermal energy
Turkey’s Energy Minister said Turkey would look to develop further geothermal energy resources. Turkish Energy Minister Hilmi Guler said the government was looking to save 315 million euro between now and 2013 with an annual production of 4.4 billion kw/hr through geothermal power plants.
During a visit to Iceland, Guler said that in terms of geothermal energy potential, Turkey ranked 7th in the world and 1st in Europe with a potential of 31,500 MWs. However, currently it was was only producing a total of 30 MWs at three geothermal power plants. Guler said they wanted to increase this to a total of 550 MWs by 2013.
Israel's largest petroleum refiner may invest in Turkey
Oil Refineries Ltd., Israel's biggest petroleum refiner, plans to make acquisitions in Turkey and elsewhere after its sale by the government last year opens up opportunities, Chief Executive Officer Yashar Ben Mordechai said. Oil Refineries is seeking a small refinery or a stake in a larger one, and is looking for purchases in the retail gasoline business in Cyprus, Italy or Turkey, Ben Mordechai said in an interview in Tel Aviv.
Two more state-owned electricity grids for sale
The state-owned Meram and Aras electricity distribution corporations are to be privatized, with its shares will be sold as a block, Turkey's Privatization Administration (OIB) announced yesterday in the Official Gazette.
The eventual buyer must provide $10 million as collateral to purchase the Meram Electricity Distribution Corp. shares. The corporation serves Kirsehir, Nevsehir, Nigde, Aksaray, Konya and Karaman. For the shares of the Aras Electricity Distribution Corp., which serves Erzurum, Agri, Ardahan, Bayburt, Erzincan, Igdir and Kars, the figure is $5 million.
Energy Minister says Turkey controls world boron market
Turkey's energy minister said on Wednesday that Turkey currently controlled the world's boron market. Attending a meeting on "The Future of Boron and Turkey" at Ankara's Cankaya University, Turkish Energy and Natural Resources Minister Hilmi Guler said remarkable studies were being carried out and more than 2,000 products were produced in Turkey using the "boron" chemical.
"We can say that Turkey is now controlling the world's boron market," Guler said. He also said Turkish experts carried out studies on "sodium-boron hydride" which was one of the most important hydrogen carriers of the future. Guler said Turkey produced cement using boron chemicals as well. He said 4,000 tons of cement was produced using such material currently and the product would be commercialized soon.
Boron, a semi-metallic element, exhibits some properties of metal as well as of non-metal. Turkey has almost 72 percent of the world's boron potential and boron reserves. The importance of boron --widely used in industries ranging from detergent industry to glass industry-- will increase as hydrogen fuelled motor vehicles are introduced.
Last day to bid for the ‘Nuclear’ is September 24
The bids for the construction of the first nuclear power station of Turkey are being accepted and the deadline for the bids is September 24, 2008. Participating companies should provide an indemnity of 35 million YTL for the power station that is planned to be built in Akkuyu, Mersin. (REUTERS)
Turkey sets deadline for bids to build first nuclear power station
Turkey has set a deadline of Sept. 24 for bids in a tender to build the country's first nuclear power station, a statement in the Official Gazette said on Monday. The power station will be built at Akkuyu near Mersin on the country's Mediterranean coast, the Official Gazette said. The plant will have a capacity of 4,000 megawatts, plus or minus 25 percent.
The project is one of the several ways in which the government plans to boost energy production to keep pace with rapidly growing demand against a background of strong economic growth. Turkey has conducted legal work on building three nuclear power plants with a total capacity of 5,000 MW.
Court rejects another appeal against privatisation of Petkim
The Council of State rejected an appeal of the Nov. 22, 2007 Supreme Privatization Board (OYK) decision to sell petrochemicals producer Petkim to the SOCAR-Turcas-Injaz consortium. The Union of Petroleum, Chemicals and Rubber Workers (Petrol-Is) had appealed the sale of 51 state shares in Petkim to the SOCAR-Turcas-Injaz consortium.
The Council of State rejection statement said there were no restrictions on companies in the winning consortium from participating in the privatization tenders.
COMPARISON OF ELECTRICITY PRICES FOR INDUSTRIAL USERS
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