PETKIM PETOKIMYA Turkey - varşova_2009.

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1 Petkim Petrochemical Holding Corp. Presentation to Investors June 2009

description

PETKIM - Turkey - Petrochemicals - Annual Results - 2009.

Transcript of PETKIM PETOKIMYA Turkey - varşova_2009.

1

Petkim Petrochemical Holding Corp.

Presentation to Investors

June 2009

2

Investment Highlights

Growth Plan & Strategy

AGENDA

Company Overview

Key Financials

General Overview of Turkey

Economy & Petrochemical Industry

3

World Economy and Petrochemical Market

WORLD GDP GROWTH RATE IS ESTIMATED AROUND 2 % IN 2010

THE DOWNTURN IS ABOUT TO BOTTOM OUT, TIME FOR INVESTMENT

WORLD PETROCHEMICAL PRODUCTION WAS DRAG DOWN TO THE LEVELS OF 15-20 YEARS

EARLIER

CAPACITY UTILIZATION RATES DECREASED TO 65-70% LEVELS IN PETROCHEMICAL SECTOR IN

WESTERN EUROPE

THE ABRUPT DECLINES IN OIL AND NAPHTHA PRICES ARE

MAINLY DUE TO CONTRACTION IN DEMAND

crudenaphtha

Daily QNAF-C-NWE, QBRT- 29/05/2008 - 07/06/2009 (GMT)

Line, QNAF-C-NWE, Last Quote(Last)05/06/2009, 548Line, QBRT-, Last Quote(Last)04/06/2009, 499.28

PriceUSDT

.12

200

300

400

500

600

700

800

900

1,000

1,100

Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunQ2 08 Q3 2008 Q4 2008 Q1 2009 Q2 2009

4

Much lower energy pricesConsumers see prices falling

Unemployment benefits extendedConstruction costs declining; interests rates at historic low

Stimulus Packages to boost the demandPerception is reality; all are engaged in fighting backGlobal GDP growth will resume ~ back to trend rate by late 2010

Good News

Consumer adverse to spending

Auto Industry living on inventory

Inflation on the horizonCredit still somewhat restrictedDeveloped economies in decline

Worse global recession since 1938

Bad NewsThe World Economy - Uncertainty Continues.

Consumer Confidence Indices improve around the world Over-Supplied market environment

Closure of high cost underperforming capacities

Source: CMAI

5

Market Conditions 2008 2009 Q1

Demand for most petrochemicals was heavily bottemed. Lately, however there is some rebound in demand mainly driven by Asia (China and India)

Operating rates were greatly reduced, placing mounting pressure on fixed costs of production.

All sectors are experiencing over-supplychallenges, even though some of the new capacity has been delayed.

Demand is improving, feedstock prices aremoderating, margins are building up

Crude oil prices surged to $147 per barrel in June, a leap of 40 percent from the beginning of the year,

Naphtha prices increased for the sixth consecutive quarters, above $1,150/MT in mid-June.

Rising costs associated with rocketing energy values forced prices higher, negatively impacting earnings all through the value chain.

In the second half; oil and naphtha prices tumbleddown to five year lows

Polymer producers suffered from the erosion of margins, profitability collapsed.

Extremely poor demand forced companies to reduce operating rates and temporarily close down plants

Due to increasing risks and volatilities, producersare heading towards their domestic markets

Goverments’ stimulus packages including tax cuts(e.g. VAT, excise tax) started to show on demandside.

6

General Overview of Turkey

Source: Investment Support and Promotion Agency

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General Overview of Turkey

Source: Investment Support and Promotion Agency

8

BTC & BTE: A Major Role in Transportation of Oil and Natural Gas

PETKİM

CEYHAN

TBILISI

BAKUERZURUM

BTE

BTC

With a 50 million ton/year capacity, nearly 1768 km long, Baku-Tbilisi-Ceyhan oil pipeline transfers Caspianoil to world markets.

With a 30 billion cubic metersnatural gas throughput capacity, 933 km (580 miles) long of Baku-Tbilisi-Erzurum (BTE) pipelinetransfers Azerbaijani gas from theShah Deniz-I field to Turkey viaGeorgia

The minimization of transportation costsDecreasing financial costs due to shorterdeliverySupply security and price stability

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PETKIM’s Landscape

10

Company Overview• Established in 1965/Second complex commissioned in 1985• The sole petrochemical producer in Turkey• 25% domestic market share (2008) well positioned in

growing markets• US$ 227 mn revenue (2009 Q1)• US$ 18 mn EBITDA (2009 Q1)

• Naphtha, LPG, C4, Condensate• Olefins, polyolefins, chlorine vinyl chain,

aromatics and other basic chemicals

• 15 main plants, 8 auxiliary units• Located in Aliağa near Izmir• Sit on a land of 1,900 hectares (4,700 acres)• Port, water dam, power generation unit (220 MW)• Adjacent to Tüpraş Aliağa Refinery

• About 2.9 mn. tons gross production (realized in 2008)

• About 3.2 mn. tons gross production (planned for 2009)

PETKIM

FACILITIES

MAIN FEEDSTOCKPRODUCTS

PRODUCTION

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Closing price (TRY per share) 6,50MCAP (TRYmn) 1.331MCAP (USDmn) 870

Free float (%) 38.7%PA

54,4%

Free Float38,6%

Civil Servants' Pension

Fund7,0%

PA10,3%

Free Float38,7%

SOCAR-TURCAS PETRO

CHEMICAL COMPANY

51,0%

Petkim’s Ownership Structure

Petkim Share Information (30 June 2009) Shareholding structure beforePrivatization

Petkim’s Share Performance Shareholding structure afterPrivatization

In May 2008 the long-awaited privatization was realized. Socar&Turcas Consortium bid $ 2.04 bn. and acquired 51 % of Petkim’s stake successfully

Relative Performance

5060708090

100110120

Jun-08Ju

l-08

Aug-08

Sep-08

Oct-08

Nov-08

Dec-08

Jan-0

9Feb

-09Mar-

09Apr-0

9May

-09Ju

n-09

ISE 100 PETKIM

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Petkim’s privatization: a powerful symbol of economic cooperation

PETKIM A bridge linking Caspian and the Aegean

SOCAR, a 100% state-owned company, operating on extraction, refining, transportation of oil, gas and gascondensate A major shareholder in the 50 million ton capacity BTC crude oilpipeline, which transports 6,6 mn. cubicmeters of natural gas to Turkey

Turcas Petrol (Turcas), is a nationwidepetroleum products distribution companyoperating on petroleum distribution, oilrefining, petrochemical production andmarketting, power generation, distributionand trading, natural gas importation andwhosesale in energy markets

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Products and Capacity

PETKIMALIAGA COMPLEXSTART-UP 1985

PETKIMPETKIMALIAGA COMPLEXALIAGA COMPLEXSTARTSTART--UP 1985UP 1985

TOTALCapacity 1,916,000 ton/yr

TOTALTOTALCapacity 1,Capacity 1,916916,000 t,000 toon/yrn/yr

Other Products1

Capacity 954,000 ton/yrOther ProductsOther Products11

Capacity 9Capacity 95454,000 t,000 toon/yrn/yr

Fiber Raw MaterialsCapacity 249,000 ton/yrFiberFiber Raw MaterialsRaw MaterialsCapacity 249,000 tCapacity 249,000 toon/yrn/yr

ThermoplasticsCapacity 724,000 ton/yr

ThermoplasticsThermoplasticsCapacity 7Capacity 72424,000 t,000 toon/yrn/yr

1 Ethylene (520,000), VCM (152,000), PA (34,000), Chlorine (100,000), Benzene (134,000), MB (10,000), Plastic Products (4,000)

ETHYLENE 520 PROPYLENE 240C4 140 PY-GAS 390AROMATICS33 346

BENZENE 160P-X 136O-X 50

CHLORINE 100VCM 152PVC 150LDPE2 334 HDPE 96PP 2 144 MEG 89ACN 90PTA 70PA 34Power (MW) 226

Product Capacity(thousand tons)

PLANT CAPACITYPLANT CAPACITYPLANT CAPACITY

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Petkim’s Today

Production Revenues

Production for Marketing (thousand tons)

Breakdown of Production for Marketing Q1 2009

1427 1409

335 307 294

1383

0,0

200,0

400,0

600,0

800,0

1000,0

1200,0

1400,0

1600,0

2006 2007 2008 Q1 08 Q4 08 Q1 09

Net Sales (mn $)

Breakdown of Sales RevenuesQ1 2009

PVC12%

LDPE21%

HDPE7%PP

9%ACN7%

C55%

Benzene9%

P-X6%

Others14%

PTA3%

Py-Gas7%

PVC10%

LDPE34%

HDPE10%

PP11%

ACN7%

C52%

P-X6%

Others10%

Benzene3%

PTA3%

Py-Gas4%

1.561 1.674 1.795

476227278

0200400600800

1.0001.2001.4001.6001.8002.000

2006 2007 2008 Q1 08 Q4 08 Q1 09

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Petkim’s Today

Others1%

America14% EU

Countries54%

Asia-Far East22%

Middle East-Africa

9%

Benzen27%

PTA2%

P-X7%Py-Gas

8%

Caustic1%

ACN4%

MEG6%

Other4%

C423%

PP2%

PVC2%

HDPE2%

LDPE12%

•Petkim products are exported to around 60 different countries

•Benzene, LDPE, Py-Gas and P-X are the main exportproducts, in Q4 2008 and Q1 2009, C4 was co-crackeddue to cost advantage

•The third exporter in chemical industry in Turkey

Share of export products in revenues 2008

Breakdown of exports by region 2008

Export Revenues by Years (mn $)

Exports

127

217

410358

523

14379 45

182

0

100

200

300

400

500

600

2003 2004 2005 2006 2007 2008 Q1 08 Q4 08 Q1 09

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Petkim’s Today

Cost Base

Petkim Thermoplastics and Naphtha Price Changes

Global Integrated Chain EBITRaw Material and Product Prices*

30

229

39

148 151

-2 6

-32

18

-150-100

-500

50100150200250

2003 2004 2005 2006 2007 2008 Q12008

Q42008

Q12009

Labour9%

Energy11%

Others12%

Raw Material

68%

Cost Breakdown*

0

250

500

750

1,000

LDPE HDPE PP MEG PVC

Naphtha CostEnd Product Prices

Index (2007Jan=100)

Petkim EBITDA Performance (US$ mn)

0

50

100

150

200

Jan0

7Marc

h07

'May

07Ju

ly07

Sep07

Nov07

Jan0

8Marc

h08

Apr08

July0

8Sep

08Nov

08Ja

n09

March0

9

Thermoplastics Naphtha

* As of Q1 2009 Source: CMAI

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Petkim’s Today

Increase in Productivity

Employees and per Capita Efficiency

0

100

200

300

400

500

600

2001 2002 2003 2004 2005 2006 2007 2008 2009Q1

0

1000

2000

3000

4000

5000

6000

7000Net sales(US$000)/capita (Left axis)Production for marketing (tons)/capita (Left axis)Employees (Right axis)

Production per capita has increased from 457

tons/capita in 2008 to 651 tons/capita in Q1

2009

Improving productivity and efficiency

Increasing capacity

with reduced number of employees

Ongoing restructuring at organizational level:

Assessing personnel efficiency withbenchmarks

Outsourcing of non-core activities (catering, some support services)completed.

Oursourcing of maintenance, after salesservices.

Plant maintenance, power generation, port management are currently managed in-

house.

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76 68

44

19

43

25

52

19 1922

0

20

40

60

80

Q1 08 Q2 08 Q3 08 Q4 08 Q1 09Cash Bank Debt

Balance Sheet (US$ Million) (IFRS)

Key Financials

FX rates are 1,5123 TL/USD and 1,6880 forr 31 March 2009 and 31 December 2008 respectively.

Cash&Bank Debt mn USD

Receivables, Inventories and Payables mn USD

31/12/2008 31/03/2009

149

58

115

293

19

1.123

19

11

43

115

146

89

60

897

1.123

166

13

317

1.053

19

121

45

185

57

811

1.053

Cash&Cash Equivalents

Trade Receivables

Inventories

Other Current Assets

Current Assets

Long-Term Assets

TOTAL ASSETS

Financial Liabilities

Payables

Trade Payables

Sort-Term Liabilities

Long-Term Liabilities

Shareholders’ Equity

TOTAL LIABILITIES

830 736

-300

-150

0

150

300

Q1 08 Q2 08 Q3 08 Q4 08 Q1 09

Receivables Inventories Payables

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Key Financials

Income Statement (US$ Million) (IFRS )

31.12.2007 31.12.2008 Q1 2008 Q4 2008 Q1 2009

Net Sales 1.674 1.795 476 278 227

Cost Of Sales (-) (1.509) (1.822) (470) (303) (205)

Gross Profit (Loss) 165 (27) 5 (25) 22 Operating Expenses (-) (77) (72) (22) (22) (7) Other Operating Income/(Expenses),net (24) (3) (3) (4) (1)

Operating Profit/(Loss) 65 (102) (19) (51) 14

Financial Income/(Expenses), Net (5) (20) 6 (17) (2)

Profit/(Loss) Before Taxation 60 (122) (13) (68) 12

Deferred Tax (3) 5 1 4 (4)

Net Profit/(Loss) for the Period 57 (117) (12) (64) 7 Depreciation 75 83 21 18 17 Interest (Income)/Expenses on Cash and Bank Debt

(1) 6 (0) 7 1

Provisions 17 30 (2) 11 (12)

EBITDA 151 (2) 6 (32) 18 Average FX rates TL/USD 1,30151 1,29291 1,19658 1,53322 1,6495

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FOREIGN

CURRENCY

LONG TERM LONG TERM NATIONAL

May, 2009 BB- (negative) BB- (negative) AA- (tur) (negative)

September, 2008 BB- (stable) BB- (stable) AA- (tur) (stable)

January, 2008 BB (stable) BB (stable) AA (tur) (stable)

June, 2007 BB (stable) BB (stable) AA (tur) (stable)

April, 2007 BB (stable) BB (stable) AA- (tur) (stable)

February, 2006 BB- (stable) BB (stable) AA- (tur) (stable)

February, 2005 BB- (stable) BB (stable) A+ (tur) (stable)

DATE

LOCAL CURRENCY

Petkim’s Today

FITCH RATINGS

While many petrochemical companies’ credit ratings were downgradedall around the world, Fitchratings affirmed Petkim’s rating with BB-

and changed its outlook to negative due to Fitch’s anticipationof economic slump weighing on global petrochemical sector

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Investment Highlights

Turkish Petrochemical Industry

PETKİM

Dominant producer25% market share

Market Size US $ 6-7 billion

1998-2008 CAGRThermoplastics demand 8%

GDP 4%

Growth Potential in the Domestic Market

-20,0

-10,0

0,0

10,0

20,0

30,0

40,0

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

Growth in Plastics Demand GDP Growth

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TURKEYAn attractive

market

0

1000

2000

3000

4000

5000

6000

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2015E

ThermoplasticsFiber RawRubber Raw

U.S.A 93 90 75W.Europe 75 78 69Turkey 40 45 43Republic of China 20 30 28World 24 25 24Brazil 22 23 25India 5 6 5

Petrochemicals Domestic Demand (tons)

Kg/capita 2006 2007 2008

Plastics Consumption per Capita

1998-2008 CAGRThermoplastics 8%Fiber Raw Mat. 3%Rubber Raw Mat. 8%

Large market size suitable for optimum

scale plants

New RefineryProjects in Turkey

“Integration Synergy”

One of thefastest growing

markets

Domestic Demand

Investment Highlights

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NEW INCENTIVE PACKAGE

• Incentive package has been announced by the government

• The following related sectors are within the scope of the package- Basic Chemicals >TL 1 bn- Other Chemicals >TL 300 mn- Refinery >TL 1 bn- Port and Port Services >TL 250 mn- Pipeline Transportation

• Incentives include;- Corporate tax reductions (from 20% to 10%)- Social security premium waivers for two years- VAT & Customs tax exemption

• The positive impact of incentive package on investment costis estimated as 10%.

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• Hydrocarbon rich owner (SOCAR)

• Experienced local owner in Petroleum market (Turcas)

• Vertical integration possibility to increase competitive power of Petkim with refinery investment

Feedstock Reliability

Investment Highlights

• Excellent locationand logistics

• Power and steam generation

• On the shore • Next to the refinery• Existing infrastructure for

capacity expansion

A “supersite”

• Naphtha-LPG based fully integrated production resultsin a more diversified product portfolio

• Well maintained assets• 10-year average capacity

utilization rate 93%

Production base

• Completed recent capacityexpansion debottleneckingand modernizaiton at around US$ 500 million.

Capacity increase

• Energy saving• Operational excellence• Business Transformation

Programme• ERP implementation• EFQM Total Quality

Management• Performance Management• Suggestion and RewardSystem

Restructuring

• One of the fastest growing markets

• One of the biggest importers of petrochemicals

Turkish Market

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GROWTH PLAN

UPSTREAM

Secure andreliable feedstock

Refinery

(Socar-Turcas)

DOWNSTREAM

• wide product range

• specialty chemicals with high value

added

ENERGY PRODUCTION

LOGISTICS

&

TRADE

Growth Plan and Strategy

Potential Investment Areas

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Growth Plan and Strategy

GROWTH PLAN

Short Term Growth Plans

Mid to Long Term Growth Plans• Capacity expansion/ debottlenecking• Business Transformation Program• Feedstock Flexibility• Energy Saving/cost reduction• Logistics• Sales and Marketing• ERP Project• Trading Activities

• Upstream investments(SOCAR-TURCAS)• Downstream investments• Energy –Wind Turbine• Logistics (Harbour, railway.)

Petkim has a general strategy of increasing market share and high customer satisfaction

VISION 2018To become a regional

force in the petrochemical sector

40% of Market Share in 2018

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Feedstock Flexibility Energy Logistics

TradingSales&Marketing

BusinessTransformation

Capacity increase

• Cut of excise tax on LPG

• Increasing LPG utilization in feed slate of cracker

•Utilization of Fluid Catalytic Cracking(FCC) and C4 stream

• Energy saving program

• Opportunity for importing NG from Azerbaijan

• Feasibility study for 47,7 MW power generation from wind

•Dual fuel feature

• New distribution centers

• Increased transportation by rail

• Increased sales delivered to customers

• Harbour expansion studies for container and RORO transportation

• Capability for storage facilitiesleasing

Meeting the total needs of customers

• Increased product trade

• Trading will be conducted both from Aliaga and new logistic centers

• New financial option topromote selling activities

Capacity increase by:

•Ethylene and Thermoplaticsrevamping

•Debottlenecking and modernization

•Maximizing asset utllitization

Short Term Growth Plans

Reviewing the current performance

Assessing the potential improvementareas in organization, maintenance, energy, Cracker&Aromatics, HSE andoperations

• Improving IT infrastructure with ERP and intergrated ManufacturingExecution System (MES)

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GROWING WITH “UPSTREAM” INVESTMENTSREFINERY FOR FEEDSTOCK SUPPLY

Mid to Long Term Growth Plans

TO REACH %40 MARKET SHARE WITH “DOWNSTREAM” INVESTMENTS

Constructed by SOCAR& TURCAS•Creation of synergy by vertical integration•Feedstock reliability for Petkim•Additional revenue from services provided to the refinery

Petkim has enough infrastructure and land for these investmentsThere is a double digit demand growth in Turkish chemical markets Petkim will take the advantage of increasing competition power in global markets by created synergyNew investment opportunities will be seeked with the domestic and foreign firms.

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We welcome your questions, comments and suggestions. Our corporate headquarters office address is:

Petkim Petrochemical Holding Corp. PO. Box.12Aliağa, 35801 İzmir/ TURKEY

To contact us with respect to shareholding relations for individual and corporate investors, please call directly or send an e-mail to

Ms. Füsun UGANFinance ManagerTel :+90 232 616 1240 (Ext:4575)Direct :+90 232 616 6127E-mail :[email protected]

Mr. C. Şafak AYIŞIĞIAssistant General Manager (Finance)Tel :+90 232 616 1240 (Ext: 2150)Fax :+90 232 616 2297E-mail :[email protected]

Mr. Kenan YAVUZGeneral ManagerTel :+90 232 616 3645Direct :+90 232 616 3642Fax :+90 232 616 3680E-mail :[email protected]

Also, please visit our web site at www.petkim.com.tr for further information and queries.

Investor Relations

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DisclaimerDisclaimer

This presentation is confidential and does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Petkim Petrokimya Holdings A.Ş. (the “Company”) or any member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any member of its group nor shall it or any part of it form the basis of or be relied on in connection with any contract, investment decision or commitment whatsoever. This presentation has been made to you solely for your information and background and is subject to amendment. This presentation (or any part of it) may not be reproduced or redistributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (excluding the relevant person’s professional advisers) or published in whole or in part for any purpose without the prior written consent of the Company.

This presentation includes forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if the Company’s results of operations, financial condition and liquidity and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in future periods. The Company does not undertake any obligation to review or confirm analyst expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this presentation.

This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

The contents of this presentation have not been verified by any authority. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information contained herein and no reliance should be placed on it. None of the Company, their advisers, connected persons or any other person accepts any liability for any loss howsoever arising, directly or indirectly, from this presentation or its contents.

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PETKİM PETROKİMYA HOLDİNG A.Ş.GENERAL MANAGEMENTALİAĞA – İZMİR / TURKEY

Phone: +90-232-6161240 (20 lines)+90-232-6163240 (20 lines)

Fax: +90-232-6161248 +90-232-6161439 +90-232-6162490

Web site : www.petkim.com.tr , E-mail: [email protected]

PETKİM GUZELHISAR WATER DAM PETKİM PORT

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Petkim Flow Diagram

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Azerbaijan and Turkey Strategic Projects

Baku-Tbilisi-Ceyhan oil pipeline (BTC)

Natural gas pipeline “Şahdeniz”

Railway project between two countries

“Petkim project”

Turkey and Azerbaijan have many strategic corporations planned and realized up to now

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Baku-Tbilisi-Ceyhan* COPL Project

Turkey-Greece NGTL Project

Transcaspian Turkmenistan-Turkey Europe NGTL Project

Azerbaijan-Turkey NGTL Project

Iraq-Turkey NGTL Project

Egypt-Turkey NGTL Project

Turkey-Bulgaria-Romania-Hungary-Austria NGTL Project (Nabucco Project)

Eastern Black Sea NGTL

Western Black Sea Project

Natural Gas Underground Storage Project

Source: Investment Support and Promotion Agency

Turkey: A Regional Energy Hub

.

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Azerbaijan & Turkey

Turkey and Azerbaijan are strategic partners. Azerbaijan have crude oil and natural gas sources which Turkey do not have.

Turkey and Azerbaijan partnership will provide many opportunities for Turkey and for Petkim

SUPPLY SECURITYFOR TURKEY

DEMAND SECURITYFOR AZERBAIJAN

ENERGYSECURITY ++

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Baku-Tbilisi-Ceyhan oil pipeline (BTC)

Turkey&Azerbaijan are interrelated with each

other by a very important project – Baku-

Tbilisi-Ceyhan oil pipeline which transfers

Caspian oil especially from Azerbaijan to world

markets.

50 million ton/year capacity, nearly 1768 km long.

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Petkim’s privatization: a powerful symbol of economic cooperation

PETKIM A bridge linking Caspian and the Aegean

Turkey’s first privately-owned distribution co. Turkpetrol and Lubricant Oils (founded in 1931) teamed up with British Castrol to layfoundation of Turcas Petroleum in 1988. Aftermerging with Tabas in 1999 renamed as Turcas Petrol, working in petroleumdistribution, oil refining, petrochemicalproduction and marketting, power generation, distribution and trading, natural gasimportation and whosesale in energy markets

Turcas Petrol (Turcas), is a nationwide petroleum productsistribution company operating on petroleum distribution, il refining, petrochemical production and marketting, ower generation, distribution and trading, natural gas

mportation and whosesale in energy markets

The State Oil Company of AzerbaijanRepublic, SOCAR, is a 100% state-owned company with the activities of extraction, refining, transportation of oil, gas and gas condensate, and saleof oil and gas products. Amajorshareholder in the 50 million ton capacity BTC crude oil pipeline, whichtransports 6,6 mn. Cubic meters of natural gas to Turkey

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PETKIM PORT

2008

GENERAL CARGO HANDLING : 1.251.029 TONLIQUID CARGO HANDLING : 1.794.029 TON

PLANNING

2015 TARGET

GENERAL CARGO/BULK HANDLING CAPACITY: 3.000.000 TON/YEARLIQUID CARGO HANDLING CAPACITY : 6.000.000 TON/YEARCONTAINER HANDLING CAPACITY : 500.000 TEU/YEARVEHICLE HANDLING CAPACITY : 140.000 CEU/YEAR

2026 TARGET

GENERAL CARGO/BULK CAPACITY : 3.000.000 TON/YEARLIQUID CARGO HANDLING CAPACITY : 10.000.000 TON/YEARCONTAINER HANDLING CAPACITY : 1.200.000 TEU/YEARVEHICLE HANDLING CAPACITY : 140.000 CEU/YEAR

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Master Plan of PETKİM Port and Lojistic Area

1.2 Million TEU of annual capacity(2026)

The berthing potential of the ships having capacity of 8500

TEU

Post-Panamax ships having length of 340 m and draft of

14,5 m

The length of container quays will be 765 m

The depth of sea in front of the quays will be 16 m