Turkey's Turcas says eyes energy investments in Iran (updated)

Turcas Holding

03/05/2016 16:12

(Updates with more comments) 
    By Ceyda Caglayan 
    ISTANBUL, May 3 (Reuters) - Turkish energy company Turcas 
Petrol is looking at entering the Iranian energy market through 
investments in oil, gas or renewables following the lifting of 
most sanctions against the Islamic Republic, its chief executive 
said on Tuesday. 
    "We believe we definitely must be in Iran," Batu Aksoy told 
reporters. "At a time when growth in the world is stalling, a 
market like Iran could be a driving force both globally and for 
Turkey," he said.  
    Turcas  TRCAS.IS  is interested in teaming up with a local 
company but is also open to cooperating with Turkish firms, 
Aksoy said. 
    Most international sanctions including those targeting 
Tehran's oil sector were lifted in January in exchange for curbs 
on Iran's nuclear programme under a deal reached with world 
powers in 2015. 
    Some U.S. sanctions and a U.S. trade embargo remain in 
place. 
    "We have been shuttling back and forth between Iran and 
Turkey for the past five years. We have established networks 
before the lifting of sanctions. Now the embargo is lifted, they 
are more sympathetic to doing business with us," he said. 
    Supplying natural gas from Iran, as well as projects for oil 
and its derivatives, as well as renewable investments, were all 
on the agenda, he said. 
    Turcas has fuel retail business in Turkey in a partnership 
with Royal Dutch Shell. It has also set up power generation 
companies Germany's RWE. 
 
 (Reporting by Ceyda Caglayan; Writing by Humeyra Pamuk; Editing 
by Daren Butler and David Dolan) 
 ((humeyra.pamuk@thomsonreuters.com; +90 212 3507062; Reuters 
Messaging: humeyra.pamuk.reuters.com@reuters.net)) 
 
Keywords: TURKEY TURCAS/IRAN