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OMV steps into Turkey’s power industry with huge investment in Samsun

October 8, 2010 - 4:00 pm (CET)

  • OMV invests EUR 600 mn in constructing its first combined-cycle power plant in the Turkish growth market
  • The official groundbreaking ceremony took place in Terme, Samsun – with participation of Minister Yıldız, Minister Demir and Austria’s Foreign Affairs Minister Spindelegger 
  • The low-emission 870 MW plant will commence operations in 2012 and will cover 3% of Turkey’s electricity needs

Based on OMV’s corporate business strategy to establish Turkey as a third core market, OMV CEO Wolfgang Ruttenstorfer along with Turkey’s Minister of Energy and Natural Resources Taner Yıldız, Turkey’s Minister of Public Works and Settlement Mustafa Demir, Austria’s Foreign Affairs Minister Michael Spindelegger and local authorities participated at the official groundbreaking of OMV’s first power plant in Terme, district of Samsun today. With this investment, OMV is taking another important step towards becoming a fully integrated energy supplier, further extending its value chain.

Wolfgang Ruttenstorfer, CEO of OMV, the leading energy Group in the European growth belt, delivered the opening address at the ceremony, emphasizing his excitement about the project: “We are delighted to realize a project of this capacity in Turkey, which will enhance the security of supply for electrical power for the fast growing Turkish energy market and contribute to its source diversity. It will ensure that OMV becomes a strong partner in terms of energy not only in Samsun but in all of Turkey.”

Following CEO Ruttenstorfer, Korkut Öztürkmen, General Manager for Power at OMV Gaz ve Enerji, addressed the gathering: "Our low-emission natural gas combined-cycle power plant will have a capacity of 870 MW, and will be equipped with state-of-the-art technology – using the latest turbines by General Electric – and is expected to serve as the most efficient and productive power plant of its kind in Turkey. The plant will also provide employment and contribute to the economy of the region. The generated power will be transmitted directly into the national grid and provide for 3% of the country’s total electricity needs. Its strategic location will ensure a continuous gas supply, and with it, an uninterrupted least cost power supply. Starting with this project, OMV is aiming to demonstrate that it is a trustworthy and innovative partner in Turkey in the coming years supporting security of energy supply in Turkey with diversified energy source base."

Having been awarded a 49-year power generation license from the Turkish energy market regulator EMRA in 2008, the OMV Samsun Elektrik plant will be OMV’s first step to support market efficiency and transparency. The Know-how of OMV Gas & Power in liberalized gas markets such as Austria, Germany, Italy, Hungary and Romania will be a crucial competitive advantage for OMV’s activities in Turkey.

As a big growth market, Turkey is of great significance for OMV. The company has been holding a stake at Petrol Ofisi – Turkey’s leading company in the retail and commercial business – and is now taking its next big step by entering the Turkish power industry.

Background information:

OMV in Turkey 
OMV succeeded in entering the Turkish growth market by acquiring a 41.58% stake and gaining joint control of Petrol Ofisi, Turkey’s leading company in the retail and commercial business with a filling station network of over 3,000 stations. Since 2007, OMV Gas & Power has been represented on the Turkish market by its subsidiary OMV Gaz ve Enerji. OMV, via OMV Samsun Elektrik, is currently constructing an 870 MW natural gas combined-cycle power plant in Samsun. Owing to its 40% stake in Enerco Enerji, the second largest natural gas trading company in Turkey, OMV will be able to guarantee gas supply to the Samsun power plant over the long term. Besides, the ratification of an Intergovernmental Agreement (IGA) in 2009 and the resulting creation of a uniform legal framework marked an important milestone for the realisation of the Nabucco Gas Pipeline, which will transport natural gas from the resource-rich Caspian region and the Middle East via Turkey to Europe.

About OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş.
OMV Samsun Elektrik, with headquarters in Istanbul, Turkey, was founded in October, 2007 with the purpose of constructing a gas-fired power plant in Samsun Province, Terme County. OMV Power International GmbH (OMV Gas & Power GmbH) holds 100%, after acquiring 60% stake in the company in 2008 and purchasing the remaining shares in the following year.

In April 2008 OMV Samsun Elektrik was granted a 49-year generation license from the Turkish Energy Market Regulatory Authority to produce and trade energy in Turkey. The Samsun Power Plant is planned with a capacity of 870 MW, the total investment is estimated at EUR 600 mn and the lifetime of the facility is expected to be 30 years.

OMV Aktiengesellschaft
With Group sales of EUR 17.92 bn and a workforce of 34,676 employees in 2009, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. As the leading energy Group in the European growth belt, OMV is active in Refining & Marketing (R&M) in 12 countries. In Exploration & Production (E&P) OMV is active in 16 countries on four continents. In Gas & Power (G&P) OMV sells approximately 13 bcm gas per year. Through its 2,000 km long gas pipeline network in Austria G&P transports approximately 75 bcm gas annually. OMV’s Central European Gas Hub is with around 23 bcm annual trading volume one of the most important gas hubs in Continental Europe.

OMV is the leading energy Group in the European growth belt with oil and gas reserves of approximately 1.19 bn boe, daily production of around 318,000 boe in Q2/10 and an annual refining capacity of approximately 26 mn t. OMV now has 2,319 filling stations as of Q2/10. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of 41.58% of Petrol Ofisi, Turkey’s leading company in the retail and commercial business.

Sustainability
OMV is a signatory to the UN Global Compact, and an active supporter to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment, especially in economically weak regions. OMV continuously addresses economic, environmental and social issues related to its business in a responsible manner. The Company reports on its activities in a sustainability report in accordance with the Global Reporting Initiative Guidelines. This report is published at the same time as the annual report.

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