OMV, the Austrian energy group partly owned by Abu Dhabi, has started building a large gas-fired power plant in northern Turkey that was on the drawing board for three years. The €600 million (Dh3.06 billion), 870-megawatt development near the Black Sea port of Samsunis OMV's first electricity project in Turkey, where the company already has a presence in the petroleum and gas sectors. "We are delighted to realise 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," Wolfgang Ruttenstorfer, the chief executive of the company, said at a ground-breaking ceremony on Friday. OMV is 20 per cent owned by Abu Dhabi's International Petroleum Investment Company
Korkut Ozturkmen, the general manager for power at OMV's Turkish unit OMV Gaz ve Enerji, said the high-efficiency, low-emissions plant would supply 3 per cent of Turkey's electricity starting in 2012. "Starting with this project, OMV is aiming to demonstrate that it is a trustworthy and innovative partner in Turkey … supporting security of energy supply," he said. In August, a senior OMV executive said Turkey was the most likely country for additional power-sector investments by the company.
OMV has for years been watching Turkey's potential to establish itself as a regional energy centre while building its presence in the country. The company is a backer of the proposed Nabucco gas pipeline, which would transport Caspian and Middle Eastern gas to Europe via Turkey, bypassing Russia. It also holds a 41.58 per cent interest in Petrol Ofisi, the biggest Turkish petroleum retailer, and 40 per cent of Enerco Enerji, the country's second-biggest gas trading company.
OMV said its Enerco stake would enable it to guarantee a long-term gas supply to the Samsun power plant. "As a big growth market, Turkey is of great significance to OMV," the company said. This week, the IMF raised its forecast for Turkey's GDP growth this year to 7.8 per cent from the 6.1 per cent it projected last month, implying the Turkish economy could expand at almost twice the rate of other emerging European economies.
Turkey has depended on coal-fired power stations and hydroelectric projects for most of its electricity. It is seeking to diversify its energy supply with gas-fired, nuclear and renewable power projects. The government has recently made strides in privatising the country's electricity sector.
