9/23/2011

Nabucco partner OMV optimistic on Turkey growth, plans new investments

Zaman / Star - Energy company OMV is set to increase its investments in Turkey, forecasted to be the third largest electricity and the fourth largest gas market in Europe by 2020, according to its CEO Gerhard Roiss. The Austrian company is involved in the fuel retailing business in Turkey through its acquisition of Petrol Ofisi shares, now owning a 97 percent stake, and is building a gas-fired power plant on Turkey’s Black Sea coast. OMV is also a partner of the Nabucco Gas Pipeline Project that is designed to transport gas from supplier countries in the Caspian region to European consumers.

“OMV aims to build more gas-fired plants in Turkey like the one under construction in Samsun. Turkey is slated to become one of the largest markets of electricity and gas in Europe within ten years,” said OMV CEO of their future plans in Turkey in a meeting held in Istanbul. OMV plans to run its gas and electricity generation activities in an integrated way, forming a value chain for a market that is expected to grow 70 percent until 2020, Roiss noted.

“OMV regards the Nabucco as a gas highway with room to increase capacity,” said Roiss about the long-delayed project and mentioned Turkmenistan as a possible supplier. Also expressing gratitude to the Turkish government for its support for the project, OMV CEO said that additional suppliers and pipelines could be added to the project at a later date.
Turkey; turkey energy market; omv; nabucco; petrol ofisi; gerhard roiss; omv power plant; omv turkey

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