Turkish gambit of Lukoil

How the crisis in relations with Ankara hit Alekperov's business?
Origin source
In his speech to the Federal Assembly, Vladimir Putin said that if the Turks think "get off tomatoes or some limitations in the construction or other industries, they are deeply mistaken." Of course, the full-scale sanctions by Russia would become a nightmare for Turkey. The Russian market for it means much more than the Turkish market for Russia.

Topic: War of the XXI century

But in a war of sanctions, as is known, all suffer. It is no coincidence, many experts began to wonder now, how large Russian companies in the first place hit by the crisis in relations with Ankara.

First of all comes to mind is "Gazprom", which together with Turkish partners had planned to implement an ambitious project to build a pipeline "Turkish Stream". This project was to replace at least an ambitious gas pipeline project "South Stream". However, it is worth noting that in October, the leadership of the Russian gas corporation has decided to reduce the design capacity of the pipeline by almost half due to "Nord Stream". And some observers havethen we suggested that "Turkish Stream" will remain only on paper.

There are, however, more "Blue Stream" - a pipeline passing under the Black Sea, which provides 60% of the total gas consumption in Turkey. Deliveries are on it yet since 2003, there is, after all, the current contract, so both sides have a serious reason not to boil, so as not to commit follies.

Whatever it was, the "Gazprom" has long been friction began with Turkish partners. This ensures the exclusivity of supply of certain welfare. On a far more serious losses of state corporation Rosatom will face: most likely it will have to abandon the costly project to build a nuclear power plant "Akkuyu" on the Mediterranean coast.

But perhaps the most painful blow to break with Turkey will be for the oil company Lukoil, which has always felt very comfortable in this country. Business Lukoil is not just vulnerable, it is in the area of ​​acute political risks.

Most likely Lukoil was forced to establish close ties with the clan Erdogan. How elsemaintain influential positions in the Turkish fuel market, which is a zone of special interests of the family of the president?

Lukoil operates in the Turkish fuel market since 1998, retail sales in Turkey is engaged in from 2006. In 2008, the Turkish "daughter" LUKOIL Lukoil Eurasia Petrol AS acquired a large network operator petrol stations "Akpet» (Akpet gaz - 5% of the Turkish retail market of petroleum products), resulting in LUKOIL retail network abroad has increased by 18%.

The deal was completely closed in 2009 at a price significantly lower than the market - at least 0.6 billion US dollars. A substantial discount, according to experts, could assume the existence of the agreement LUKOIL hidden obligations to the seller (it should be noted that this type of transaction is not uncommon for members of the business community). In Turkey "Akpet" assets included: about 700 gas stations, five LPG storage, three jet fuel filling complex, factory motor oil, eight refined product terminals, six of which are carried by sea and transshipment of three product pipelines connected to refineries "Tyuprash"; (Tupras).

A key role in the Turkish Empire LUKOIL plays Lukoil Eurasia Petrol AS - regional logistics center, allows you to coordinate business in Azerbaijan, Georgia and Turkey. In addition, LUKOIL controls about 20 legal entities in the Republic of Turkey. In many firms, we were not able to establish the beneficiaries, whose interests in the management bodies are Turkish director.

To learn how to appreciate in LUKOIL Turkish assets, evidenced by the fact that they control the people is not the last in the corporate hierarchy. Director General of Lukoil Eurasia Petrol AS (the head of the Euro-Asian interregional association) Alexander Terletskii previously served as First Deputy General Director "LLK-International" OOO (Implementation of LUKOIL oils). A chairman of the board of the company, apparently, is Vadim Vorobyov, vice president of marketing coordination LUKOIL petroleum products, the former president of OAO NK "Norse-Oil", which looked after transfer of state of the Nizhny Novgorod Refinery control Vagit Alekperov.

Incidentally, LUKoil gets its of refinedruits for retailers with the Sicilian refinery ISAB refinery plant and the Bulgarian "Burgas". However, these petroleum products is apparently not enough to meet the needs of all Turkish LUKOIL dressings. So, LUKOIL, wittingly or unwittingly, could cover the missing volumes to the Turkish mills, processing smuggling oil supplied banned in Russia IG. It is possible, for example, that it supplied oil company "Tyuprash", which with LUKOIL have joint logistics projects for the storage and transportation of oil. (According to the Russian Defense Ministry data, one of the refinery "Tyuprash", located in the place of Batman in the 100-150 km from the borders with Syria and Iraq, is used for the processing of oil smuggling, which IG supply terrorists from the Syrian district of Deir ez-Zor (northern route) and through the Iraqi-Turkish border near Zakho (eastern route).

At the same time it is no secret that the family members of the President of Turkey are involved in the illegal sale of oil and petroleum products. It is also talking about zyate Erdogan - MinisterEnergy Berat Albayrak and his son Bilal Erdogan president - owner of BMZ Group, which is engaged in marine transportation and logistics. For financial calculations used in the illegal business close Erdogan State Halk Bank, part of the seven biggest Turkish banks.

The special relationship with the family business Erdogan quite fit into the positive atmosphere of Russian-Turkish relations. Now, after Putin signed a decree on application of special economic measures against the Republic of Turkey, which actually requires major Russian businessmen to curtail relations with companies directly or indirectly associated with the clan Erdogan, the situation changed dramatically.

LUKOIL, which for many years sought to gain a foothold in the Turkish fuel market, was in a delicate position. The question is whether it is now sacrifice their ties and business interests for the sake of national security of Russia is ready.

Alekperov always believed a man who knows how to deal with any, even absolutely unsolvable problems, get away from the water. However, practically impossibleimagine how he would act in this situation: to sell by auction a Turkish empire, or to cooperate with those businessmen who, according to the president of the Russian Federation, "stuffed their pockets and give money to terrorists in the sale of stolen goods to Syria's oil"?