Gas company enters retail business

ISTANBUL - Hürriyet

İpragaz, a local liquefied gas company mainly active in the propane cylinder and auto gas businesses, is preparing to enter the oil retail business, Chief Executive Officer Selim Şiper has told daily Hürriyet.

The company cannot find enough space at gas stations, so it has decided to open its own facilities, said Şiper, who also chairs the Asian and Eastern European business of Holland-based SHV, the parent company of İpragaz.

$50 million investment

The company plans to put some $50 million into the business and build a brand as of 2013. İpragaz will sell both gas and oil at its planned stations. The sites of some stations have already been determined, he said.

The company launched Marnegas, a liquefied gas brand for boats, three years ago. Şiper said they had converted 36 boats to gas so far, providing both cost and environmental advantages.

One of the sea taxis operating on Istanbul’s Bosphorus is among those converted boats, he said.