SDIF puts Pet Gas LPG storage facilities up for sale

Savings Deposit Insurance Fund (TMSF) put up for sale the Pet Gas LPG Storage Facilities Commercial and Economic Integrity, which consists of the LPG storage facilities within Pet Gaz AŞ, Dörtyol Petgaz Terminal AŞ and Karadeniz LPG Storage and Deniz Terminali Ticaret AŞ, for which it was appointed as trustee.

Savings Deposit Insurance Fund (TMSF) has put the Commercial and Economic Integrity of Pet Gas LPG Storage Facilities, which has a strategic location in the energy infrastructure, up for sale. In the process that started with the official announcement published in the Official Gazette, it was reported that sealed bidding and auction procedures would be run simultaneously to determine the new owner of the facility.

Tender Schedule and Collateral Conditions

The estimated price for the storage complex offered for sale was recorded as 3 billion 210 million lira. Bidders who want to participate in the property transfer race must meet the guarantee requirement of 321 million lira and submit the bid files they have prepared to the institution by 16:00 on Tuesday, December 8. The final tender process will be held on Wednesday, December 9, at 11:00 at the institution's campus in Esentepe, Istanbul.

Investors will be able to fulfill their collateral obligation directly with cash or bank letter of guarantee, as well as with government bonds, Treasury bills or Treasury guaranteed bonds. When debt securities are preferred, it is mandatory to submit a bank confirmation letter to the administration stating that an amount of 40 percent more than the current value of the security is blocked on behalf of SDIF.

Energy Logistics and Its Effect on Consumer Prices

LPG storage areas are among the most critical links that maintain market balance against the rising fuel demand and industrial consumption during the winter months. Recommissioning the facility with a strong corporate structure will ease supply bottlenecks in the wholesale gas flow, making distribution logistics more efficient. It is envisaged that this cost advantage to be provided in the supply chain will be reflected in the form of supply security and price balance to the large consumer base using auto gas and bottled gas. Modern infrastructure investments will also reinforce the reliability of regional energy transmission lines.