Turkey nationalizes assets owned by Gazprom

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Turkey nationalizes assets owned by Gazprom
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Gazprom, a Russian gas giant, may lose its largest asset in Turkey, which authorities de-facto nationalized the company’s stake in Akfel Holding, Kommersant newspaper reports on Tuesday.

On the 2nd of December, the Turkish authorities changed the Board of Directors of Akfel Holding and introduced into it a representative of the Deposit Insurance Fund (TMSF), as well as consultants.

This measure was taken within the framework of the enforcement of emergency decree N674, which was adopted by Ankara following the coup d'etat attempt.

“They deprived us of the most efficient and profitable seller of Russian gas in Turkey,” said a source close to Gazprom corporation to Kommersant.

Akfel Holding is the largest private importers of Russian gas in Turkey. The company includes Аkfel Gas, Avrasia and Enerco. Sixty percent of shares of the two latter companies belong to a joint enterprise set up by Akfel and Gazprombank.