SOCAR completed the acquisition of EWE Turkey Holding from EWE.

The State Oil Company of the Azerbaijan Republic completed the acquisition of EWE Turkey Holding and its group of companies, which manages the operations of the German energy company EWE in Turkey. Financial terms were not disclosed. The acquisition of EWE Turkey will enhance the value of the natural gas distribution sector and create favorable conditions for SOCAR to access directly the end customer market in Turkey. "The purchase of this natural gas distribution business will complete our investment chain in Turkey, creating additional value for Azerbaijan and Turkey," Rovnag Abdullayev, SOCAR President.