Gazprom, a gas holding headquartered in Russia, is likely to completely withdraw from the domestic market of Turkey, being the only exporter of gas, Kommersant newspaper reports on Wednesday.
According to sources familiar with the situation, Gazprombank completes the withdrawal from Promak, which owns a controlling stake (60%) in two companies importing Russian gas to Turkey — Enerco and Avrasya.
Promak is a joint venture of Russian Gazprombank and the trader Akfel Holding, established in 2014. Gazprombank owned 40% stake in the company, the remaining share belonged to its partner.
Earlier, Deputy Chairman of Gazprom Alexander Medvedev spoke about the company's plans to sell another Turkish asset, Bosphorus Gas. According to Medvedev, the Turkish market is “unpredictable” and loses its appeal due to the weakening of the lira and the regulated tariffs.
