3/17/2008

Global Yatirim Energaz offers highest bid for Ankara natural gas grid

Turkish Daily News - Global Yatirim Holding won the auction for a gas-distribution network in Ankara with a $1.61 billion bid Friday. Global and its partner, Energaz, beat seven companies including Spain's Gas Natural SDG and Turkey's Calik Holding to buy Baskent Dogalgaz Dagitim, a network that sold 3.16 billion cubic meters of natural gas last year, reported Bloomberg. If approved, Global-Energez will be allowed to import natural gas for the network from 2009. Global will be required to sell the gas to consumers in Ankara at a maximum 5.5 cents per cubic meter for 10 years. Global's shares surged 5.5 percent after the auction, closing at YTL 1.21.

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