Based on OMV's corporate business strategy to establish Turkey as a third core market, OMV CEO Wolfgang Ruttenstorfer along with Turkey's Minister of Energy and Natural Resources Taner Yildiz, Turkey's Minister of Public Works and Settlement Mustafa Demir, Austria's Foreign Affairs Minister Michael Spindelegger and local authorities participated at the official groundbreaking of OMV's first power plant in Terme, district of Samsun today. With this investment, OMV is taking another important step towards becoming a fully integrated energy supplier, further extending its value chain.

Wolfgang Ruttenstorfer, CEO of OMV, the leading energy Group in the European growth belt, delivered the opening address at the ceremony, emphasizing his excitement about the project: 'We are delighted to realize a project of this capacity in Turkey, which will enhance the security of supply for electrical power for the fast growing Turkish energy market and contribute to its source diversity. It will ensure that OMV becomes a strong partner in terms of energy not only in Samsun but in all of Turkey.'

Following CEO Ruttenstorfer, Korkut Öztürkmen, General Manager for Power at OMV Gaz ve Enerji, addressed the gathering: 'Our low-emission natural gas combined-cycle power plant will have a capacity of 870 MW, and will be equipped with state-of-the-art technology - using the latest turbines by General Electric - and is expected to serve as the most efficient and productive power plant of its kind in Turkey. The plant will also provide employment and contribute to the economy of the region. The generated power will be transmitted directly into the national grid and provide for 3% of the country's total electricity needs. Its strategic location will ensure a continuous gas supply, and with it, an uninterrupted least cost power supply. Starting with this project, OMV is aiming to demonstrate that it is a trustworthy and innovative partner in Turkey in the coming years supporting security of energy supply in Turkey with diversified energy source base.'

Having been awarded a 49-year power generation license from the Turkish energy market regulator EMRA in 2008, the OMV Samsun Elektrik plant will be OMV's first step to support market efficiency and transparency. The Know-how of OMV Gas & Power in liberalized gas markets such as Austria, Germany, Italy, Hungary and Romania will be a crucial competitive advantage for OMV's activities in Turkey.

Tags: OMV Aktiengesellschaft