Zorlu eyes JV in Israel
Zorlu Holding, the Turkish conglomerate, is planning to increase its investments in energy business as well as planning joint ventures in Israel, CEO Omer Yungul said, according to a report in Dunya newspaper.
"We have strong connections in Israel. The shipping of Israeli gas to Turkey is 'big business'. As our partners call us to invest in Israel more, we may be in the possible consortium to ship natural gas to Turkey, in the near future," Yungul was quoted. He also said that the business volume will be over $8bn for the project.
Currently, Zorlu has three natural gas power plants in Israel, producing 8% of Israel's electricity needs, Yungul said.
In January, Edeltech and Turkish Zorlu Enerji announced its plans to launch power plants, according to a report in Ha'aretz. A deal has been signed with Leviathan owners to provide Edeltech and Zorlu Enerji with 6bn m³ over the course of 18 years, which will be used in two power plants through their partnership, the report added.
Natural gas plants
He also said that the holding is considering to sell Bursa and Luleburgaz natural gas power plants, according to the report. The company is seeking to channel investments from gas powered plants to renewable energy plants, Yungul said.
The company has already closed down two natural gas powered plants – Ankara and Kayseri – and has potential buyers for its natural gas powered businesses in Luleburgaz and Bursa. The company is holding talks with these investors and may sell both this year, Yungul added.
Also, the company has plans to invest in renewable energy, espacially geothermal and wind power plants, he said.
Murat Basboga
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