Som Petrol AS (Turkey)

 

Date: July 2010 - Ongoing

Deal: According to Al Jazeera, Som Petrol and the National Iranian Gas Export Company (NIGEC) signed a $1.3 billion agreement to build a 660km natural gas pipeline from Iran to Turkey (Al Jazeera, July 23, 2010). The pipeline was planned to be completed in 2014, and it would carry 110 million cubic meters of gas per day, according to Gulf Daily News (Gulf Daily News, July 24, 2010).

According to Al Jazeera, as part of the deal, Iran would pay Turkey transit fees to exports its gas to Europe (Al Jazeera, July 23, 2010). The pipeline is a continuation of a project that began in 2008, which aimed to carry Iranian gas to Europe through Turkey, according to the Oxford Institute for Energy Studies (Oxford Institute for Energy Studies, January, 2010).

In November 2010, Turkey’s Petroleum administration granted a license to Som Petrol’s subsidiary, Turang Transit Tasimacilik, for “the right to operate” the pipeline, according to Business New Europe (Business New Europe, November 30, 2010). According to the EKEM European Energy Policy Observatory, the license would be revoked after two years if Turang did not sign all the necessary contracts to transport Iranian gas through the pipeline (EKEM European Energy Policy Observatory, December 20, 2010).

The current status of the project is not clear.

U.S. Business Ties: The company does not appear to have U.S. business ties, and it has not received any Federal funding, according to USASpending.gov (USASpending.gov, accessed August 19, 2014).

Last Updated: August 19, 2014