Turkish Energy Minister Hilmi Guler said Monday a tender held to sell natural gas distribution grid of the country's capital Ankara may be awarded to the second highest bidder, the Ihlas News Agency, or IHA, reported.
In March, a consortium of local investors investment firm Global Yatirim Holdings AS (GLYHO.IS) and natural gas engineering company Energaz submitted the highest bid of $1.61 billion for the Ankara grid.
In October, Global Yatirim wanted to cancel a planned a capital increase, raising doubts on its ability to pay the amount needed to finalize the gas grid tender. However, the Turkish capital markets regulator rejected Global Yatirim's demand and pushed the firm to continue the capital increase process.
In the march tender for Ankara gas grid, other bidders, unlisted Turkish firms Zorlu Petrogaz, Akfen, Calik Enerji, Limak, Elektromed and a joint venture established by Turkish construction firm Nurol and Spain's Gas Natural (GAS.MC) were eliminated.
Many international investors, including Russia's OAO Gazprom (GAZP.RS), Italy's Eni SpA (E) and Germany's RWE AG (RWE.XE) and EnBW AG (EBK.XE), didn't submit a bid in the tender despite purchasing tender documents.
Speaking to reporters, Energy Minister Guler also said the winning consortium may also take another partner to share the financial burden.
Global Yatirim announced end-March that ABN Amro Infrastructure Capital Management has joined the Ankara tender consortium by taking a 22.23% stake.
Ankara has an annual consumption of 3 billion cubic meters and Ankara's distribution grid has nearly 1.04 million subscribers.