High time for investing in Turkey’s energy market
Aksam - With a rapidly growing demand for energy and an awarding investment incentives scheme in place, Turkey offers foreign energy companies hard-to-miss deals in one of the most promising emerging countries. Most recently, South Korean LPG specialist SK Gas and Portuguese energy company EDP have both visited Turkey’s Energy Markets Regulatory Authority (EMRA) office in Ankara, seeking investment opportunities in the country’s lucrative energy market.
Guided by Investment Support and Promotion Agency of Turkey (ISPAT), SK Gas has put Turkey under microscope for its ever-increasing LPG usage, a field the company excels in. Company executives, who visited EMRA Head Hasan Köktas for a briefing on the country’s LPG market, stated that SK Gas is looking for an active position in Turkey. A division of South Korea’s third largest industrial conglomerate SK Group, SK Gas is seeking to enter the Turkish market via an M&A or through a direct investment, according to the company officials. The SK Group has recently signed a strategic partnership and cooperation agreement with Turkey’s Dogus Holding to focus on a number of sectors such as ICT, energy, infrastructure, media and tourism in Turkey.
Another likely candidate to invest in Turkey’s energy market is EDP of Portugal, which expressed interest in tapping Turkey’s vast wind energy potential. The fourth largest wind energy producer in the world is now looking for new opportunities outside the Iberian Peninsula, according to company officials who visited EMRA. Turkey’s growth potential, high dependency on imported energy and willingness to increase local energy production has led EDP to investigate investment opportunities in the country, sources reveal.