Socar Said to Mull Turkish Gas Plant Deal for Up to $250 Million

Azerbaijan’s Socar is in advanced talks to buy a gas-fired power plant in Turkey, a move that would see the state-owned producer and exporter of the fuel move downstream into the country’s electricity market.

Turkey’s Gama Enerji AS received a non-binding bid of $225 million to $250 million from Socar’s local unit for the 870-megawatt Ic Anadolu facility, people with knowledge of the matter said. It agreed to continue talks on that basis, they said, asking not to be identified as the discussions are private.

Azerbaijan is Turkey’s second-biggest source of gas — after Russia — and also ships ...