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Policy & Regulation

Turkey inches towards energy market liberalisation with sale of BEDAS – report

Turkey’s largest regional power distribution company, Bogaziçi Electricity Distribution, has been sold to a consortium of three construction companies – Cengiz-Kolin-Limak Ortak Girisim Grubu – for $1.96 billion, the Financial Times reported on Sunday.
By Leigh Elston 17 December 2012 Middle East & Africa / LNG 0 14827

Turkey’s largest regional power distribution company, Bogaziçi Electricity Distribution (BEDAS), has been sold to a consortium of three construction companies – Cengiz-Kolin-Limak Ortak Girisim Grubu – for $1.96 billion, the Financial Times reported on Sunday.

The deal is a positive signal Turkey is moving forward with the planned liberalisation of its energy sector – a key condition if the country wants to achieve its ambition of becoming a regional oil and gas transit hub.

BEDAS, which has a 30-year licence to operate the state-owned distribution grid in...