Share Purchase Agreement Signed for the Sale of Bursagaz and Kayserigaz Shares

The share purchase agreement regarding the sale of Bursagaz and Kayserigaz, group companies of SOCAR Türkiye, to AKSA Energy has been finalized.

SOCAR Türkiye — the largest direct international investor and leading integrated industrial group in Türkiye — has completed the share purchase agreement for the sale of its natural gas distribution companies, Bursagaz and Kayserigaz. Following the completion of the transaction, both companies will continue their operations under the umbrella of AKSA Energy.

Since joining SOCAR Türkiye in 2019, Bursagaz and Kayserigaz have provided natural gas distribution services to approximately 2 million independent units (BBS*). With around 1.2 million BBS subscribers and a distribution network exceeding 7,000 kilometers, Bursagaz stands out as Türkiye’s fourth-largest natural gas distribution company in terms of the amount of gas delivered to end users. Kayserigaz, with a similar network length, delivers safe natural gas service to 700,000 BBS subscribers.

Since becoming part of SOCAR Türkiye, Bursagaz and Kayserigaz have achieved significant growth through investments aligned with a focus on quality, innovation, and customer-centric service. During this period, both companies not only improved service quality but also expanded access to natural gas to new districts, strengthening the overall infrastructure network.

Commenting on the transaction, SOCAR Türkiye CEO Elchin Ibadov stated: “Since acquiring Kayserigaz and Bursagaz in 2019, we have been proud to deliver natural gas to every settlement within our area of responsibility, just as we promised. With their robust infrastructures, operational excellence, and expert teams, both companies have attracted the interest of investors. The decision to proceed with the sale aligns with SOCAR Türkiye’s long-term strategic goals. With approximately USD 18.5 billion invested to date, we remain Türkiye’s largest direct international investor, and we will continue to generate long-term value in the country through our strategic investments. As we recently shared with the public, we have initiated front-end and detailed engineering (Pre-FEED and FEED) studies for a major petrochemical investment, focusing on one of our core business areas in Türkiye. We remain committed to contributing to the economies, employment, and social development of both Azerbaijan and Türkiye.”

*BBS: Independent Unit Count (used to represent subscriber units)