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Azerbaijan’s state-owned energy company Socar is reportedly considering selling its Turkish port operation, Socar Terminal—known as the largest integrated port in the region—as it continues to reshape its portfolio in Türkiye in line with its $7 billion investment plan.
The port operations subject to the sale include a major container port and a nearby facility serving the company’s petrochemical subsidiary, Petkim Petrokimya, sources familiar with the matter told Bloomberg.
While sources indicated that no final decisions have been made, and the identity of potential buyers remains undisclosed, Socar declined to comment on the reports.
Socar Terminal is located in the Aegean region and is considered the largest integrated port facility in the area, with a handling capacity of up to 1.5 million twenty-foot equivalent units (TEUs) annually. Socar has invested approximately $420 million in the terminal to date.
Shares of Petkim (PETKM) on Türkiye’s stock exchange, Borsa Istanbul, rose by as much as 3.5% following news of the potential sale; however, the stock later reversed those gains.
The possible sale of Socar Terminal follows recent efforts by the company to consolidate its port operations. Earlier this year, Socar Terminal acquired the remaining 93% of Petkim port operator Petlim for $172 million.
The planned divestment is expected to support Socar’s financing strategy for a $7 billion investment aimed at expanding its petrochemical footprint in Türkiye.
Socar’s Turkish unit has been actively restructuring its asset base throughout 2025. In January, the company completed the sale of its gas distribution subsidiaries, Bursagaz and Kayserigaz, to Turkish energy firm Aksa Natural Gas.
Bursagaz, which serves around 1.2 million subscribers across a 7,000-kilometer pipeline network, ranks as Türkiye’s fourth-largest gas distributor by end-user volume. Kayserigaz, with a similar pipeline length, delivers natural gas to 700,000 subscribers in Kayseri.
At the same time, Socar is pursuing new investment opportunities in Türkiye, including ongoing talks to acquire a gas-fired power plant.
Socar Türkiye CEO Elchin Ibadov had emphasized that such asset sales align with the company's broader strategic goals to prioritize petrochemical growth in the region.
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