In 2009... - Petrol Ofisi
In 2009... - Petrol Ofisi
In 2009... - Petrol Ofisi
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LNG market in 2009<br />
<strong>In</strong> 2009, two important developments affected the<br />
LNG market in Turkey. Firstly, consumption volume<br />
significantly contracted in the first quarter of the<br />
year as LNG lost its price advantage. Following oil<br />
prices with a 6-9 months’ delay, natural gas prices<br />
reached their peak at the beginning of <strong>2009.</strong> However,<br />
during the same period fuel-oil prices sunk to<br />
a level lower than LNG due to the sharp drop in oil<br />
prices. Additionally, as some customers started investing<br />
in coal in order to cut expenses further, LNG<br />
sales registered a sharp decline in the first quarter<br />
of the year. This situation ended in April when LNG<br />
prices were reduced by 39% and significant agreements<br />
were made starting with May.<br />
Another significant development in 2009 was the<br />
LNG refueling of road tankers at the Egegaz LNG<br />
terminal situated in Aliağa, İzmir. This development<br />
provided an alternative to the BOTAŞ terminal in<br />
Marmara Ereğlisi, which used to be the only LNG refueling<br />
facility in Turkey.<br />
LNG operations of <strong>Petrol</strong> <strong>Ofisi</strong><br />
ANNUAl rePort ‘09<br />
Continuing its operations in the LNG market with its<br />
subsidiary <strong>Petrol</strong> <strong>Ofisi</strong> Alternatif Yakıtlar Toptan Satış<br />
A.Ş. (<strong>Petrol</strong> <strong>Ofisi</strong> Alternative Fuels Wholesale <strong>In</strong>c.),<br />
<strong>Petrol</strong> <strong>Ofisi</strong> is among the prominent players of the<br />
market with its 175 LNG storage tanks and 26 LNG<br />
road tankers. The company first entered the market<br />
in 2005, then grew rapidly and succeeded in maintaining<br />
its market share around 21% in <strong>2009.</strong> Despite<br />
the market contraction in the first quarter of the<br />
year due to the excessive rise in prices, <strong>Petrol</strong> <strong>Ofisi</strong><br />
registered an LNG sales volume of 73,000 tonnes<br />
and ranked first in Egegaz refueling. The company<br />
has a customer portfolio including more than 100<br />
outstanding firms from a customer pool.<br />
The transportation and storage of LNG is carried out<br />
by specially equipped vehicles since LNG has to be<br />
stored at a temperature of -162°C. The transportation<br />
services of the company are provided by <strong>Petrol</strong><br />
<strong>Ofisi</strong> Gaz İletim A.Ş. (<strong>Petrol</strong> <strong>Ofisi</strong> Gas Transport <strong>In</strong>c.)<br />
holding an L1 license. The vacuum insulated cryogenic<br />
storage tanks used in LNG transportation comply<br />
with the European standards and are regularly<br />
monitored.<br />
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