Kommersant learned about the nationalization of assets of “Gazprom” in Turkey

The largest private importer of Russian gas to Turkey Akfel Holding is actually nationalized by the authorities of emergency decree N674, adopted after the July coup attempt in the country, writes “Kommersant” with reference to sources familiar with the situation. “Gazprom”, it clarifies the issue, has a minority stake in the holding company, and 60 per cent stake in two holding companies owns SP Akfel and Gazprombank.

“We simply took the most effective and profitable seller of Russian gas,” — said close to “to Gazprom” the interlocutor of the edition.

The head of “Gazprom” Alexey Miller, according to the newspaper, during the visit of Prime Minister of Turkey Binali Yildirim of Moscow tried to discuss with him the situation, however, “he gave meaningful explanations.”

In total, the portfolio of the Gazprom group supplied Russian gas to Turkey for company Akfel group accounts for approximately 20%, while the share of the group account for 55% of all supplies of Turkish private importers, the newspaper claims. The three largest structures Akfel Holding have contracts with Gazprom to supply more than 5 billion cubic meters of gas per year.

The newspaper’s sources said that on December 2, the Turkish authorities completely changed the Board of Directors of Akfel Holding, it included representatives of the Deposit insurance Fund (TMSF) and consultants. As told by sources close to the shareholders Akfel, TMSF informal informed them that “serves shareholders.”

The newspaper’s source also said that as the discount on gas for private importers shall cease to have effect from 2017, the company should negotiate on the price of 2017. But now, the sources noted, they practically collapsed. Therefore, concluded the interlocutors of the newspaper, the local gas dispute with Turkey was inevitable.

At the same time, the Russian side need a working relationship with the Turkish authorities to implement the politically sensitive project “Turkish stream”, according to the newspaper.