17 US energy firms, Russia's Gazprom mull investing in Turkey

The rapidly growing Turkish economy has started to garner more attention from international investors, indicated by the fact that 17 American firms and Russia's largest company, Gazprom, are now considering investing in Turkey's energy market. The companies from the US are mostly interested in the renewable energy business in Turkey while Gazprom, the world's largest national gas extractor, is seriously looking for an opportunity in the country's electricity market. Speaking to a group of reporters in Ankara on Wednesday, Michael Lally, commercial counselor at the US Embassy, said American companies such as Abound Solar, AES Corporation, Clipper Windpower, General Electric, Megtec Systems and SolarReserve are among those that will make a business trip to Turkey starting Dec. 5. It will be the first time for 11 of those companies to seek business opportunities in Turkey, Lally said, adding that cooperation with Turkish companies in third countries, particularly in Russia, the Caucasus and Africa, will also be on the table during discussions to be held during their stay in Turkey. The news related to Gazprom, on the other hand, hit online portals after Alexander Medvedev, director-general of the Russian company's export arm Gazprom Export, announced the company's intentions in Turkey. "We are ready to enter Turkey's electricity market, not only as a supplier but also an investor," he was quoted as saying by the Anatolia news agency Thursday. Gazprom's venture into Turkey's domestic electricity market would likely be in partnership with a local operator.