NATURELGAZ SANAYI VE TICARET AS

What NATURELGAZ SANAYI VE TICARET AS does

Naturelgaz Sanayi ve Ticaret A.Ş. is a Turkish publicly traded energy distribution company that delivers natural gas to end-users located outside the reach of the national pipeline grid. Founded in 2004 and majority-owned by Global Yatırım Holding A.Ş. (60%), Naturelgaz has been listed on Borsa İstanbul under the NTGAZ ticker since April 2021 and operates from its headquarters in Şişli, Istanbul.

The company's offering is built around five business lines — Industrial CNG, Industrial LNG, Auto CNG, City Gas (Şehir Gazı), and Well CNG — supported by 13 industrial CNG filling plants, 6 LNG land tankers, 31 LNG storage tanks, 94 evaporators, 71 industrial CNG compressors, a 35-tractor fleet, and over 60,000 CNG cylinders. Gas is compressed at roughly 200 bar at filling facilities or transported as LNG at -162°C, and delivered to customer sites where 334 on-site pressure reduction systems (as of Q1 2024) regulate pressure to customer specifications. The City Gas line extends service to 124+ districts and towns under coordination with Turkey's Ministry of Energy and EMRA.

Revenue is generated primarily on a usage-based, volume (Sm3) model under regulated pricing that includes BOTAŞ/Egegaz LNG tariff, special consumption tax (ÖTV), investment share, transportation costs, and company margin. Customer segments span industrial enterprises (asphalt, food, construction materials, chemicals, mining, metals), municipalities and residential areas without pipeline access, commercial transportation fleets at two Auto CNG stations, and natural gas wells not connected to the grid. Reported 2023 revenue was 4 billion TL, with H1 2024 revenue of 2.336 billion TL and net profit of 77.2 million TL (approximately 3x year-over-year). The business model is asset-heavy, regulated, and dependent on government-coordinated concessions, EMRA licensing, and dual-source LNG procurement from BOTAŞ and Egegaz.

Name

NATURELGAZ SANAYI VE TICARET AS

Legal name

Naturelgaz Sanayi Ve Ticaret A.Ş.

Website

https://naturelgaz.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Naturelgaz is Turkey's largest off-grid natural gas distributor, delivering CNG and LNG via 13 filling plants, 6 LNG tankers, and a 35-truck fleet to industrial enterprises, municipalities, vehicle fleets, and remote wells without pipeline access across 124+ districts.

Ownership category

akta.pro rank

Product category

Natural Gas Distribution

NAICS

Natural Gas Distribution (221210), Natural Gas Distribution (2212), Natural Gas Distribution (22121)

SIC

Natural Gas Distribution (4924), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Industrial CNG/LNG Supply & Distribution (Virtual Pipelines, Trucking, Satellite Storage) (EUALALAA)

akta.pro secondary industries

CNG/LNG Refueling for Industrial Fleets (Private Stations, Yard Fueling) (EUALALAK), Off-Grid/Remote Energy Solutions (Mines, Camps, Islands using LNG/CNG) (EUALALAI)

Keywords

• CNG distribution
• LNG distribution
• Compressed natural gas
• Off-grid natural gas
• Industrial gas supply

Headquarters

HQ city

Istanbul

Offices18 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Bulk CNG Sales: Compressed natural gas sold on a volume basis (Sm3) to industrial customers, accommodation facilities, public institutions, and housing projects. Gas is measured by meters with automatic volume correctors and invoiced according to Turkish energy regulations.
2. LNG Sales: Liquefied natural gas delivered via tanker fleet to industrial customers. Pricing based on BOTAŞ/Egegaz LNG tariff, special consumption tax (ÖTV), investment share, transportation costs, and Naturelgaz margin. Motorin and TÜİK/ÜFE data also considered.
3. City Gas Services: Natural gas supply to districts and towns without pipeline access under government coordination (Ministry of Energy and EMRA). Delivered through bulk CNG/LNG logistics network to over 124 locations.
4. Auto CNG Fuel Sales: CNG fuel sold to commercial vehicles (heavy trucks, buses) at Auto CNG stations in strategic locations (Bolu and Kocaeli).
5. Well CNG Services: Services to natural gas wells not connected to the national grid, transporting extracted gas in CNG form and injecting into the pipeline network.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Naturelgaz is an off-grid natural gas distribution company that supplies compressed natural gas (CNG) and liquefied natural gas (LNG) to industrial customers, municipalities, public institutions, and transportation fleets in regions of Turkey without pipeline access. The company operates 13 industrial CNG filling plants, 60,000+ CNG cylinders, a 35-truck tractor fleet, 6 LNG tankers, 31 LNG storage tanks, 94 evaporators, and 334 pressure reduction systems installed at customer sites, serving 124+ districts and towns across 7 regions.

Product overview

Naturelgaz is an off-grid natural gas solutions provider offering a portfolio of five interconnected products: Industrial CNG (compressed natural gas delivery via cylinder systems), Industrial LNG (liquefied natural gas via tanker fleet), Auto CNG (fuel stations for vehicles), City Gas (municipal gas distribution to off-grid settlements), and Well CNG (well-to-pipeline gas transportation). The company operates 16 total facilities across Turkey including 13 CNG filling plants and 2 Auto CNG stations, serving industrial customers, municipalities, and transportation fleets through a integrated logistics network.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial CNG (Endüstriyel CNG) Supply of compressed natural gas (CNG) to businesses, accommodation facilities, public institutions, and housing projects in regions without pipeline access. Delivered via 13 industrial CNG filling plants, 60,000+ CNG cylinders, 35-tractor fleet, and 71 industrial CNG compressors. Natural gas is compressed to approximately 200 bar pressure at filling facilities and delivered in specialized cylinder pallets.
• Industrial LNG (Endüstriyel LNG) Supply of liquefied natural gas (LNG) to industrial facilities without pipeline access via LNG tanker fleet. Features 6 LNG land tankers, 31 LNG storage tanks, and 94 vaporizers. LNG is transported at -162°C and vaporized at customer sites.
• Auto CNG (Oto CNG) CNG fuel solutions for heavy vehicles and logistics fleets at strategic locations. Includes 2 Auto CNG stations (Bolu and Çayırova/Kocaeli) providing fuel for CNG-powered vehicles including diesel trucks and buses.
• City Gas (Şehir Gazı) Supply of natural gas to districts and towns without pipeline network access through a strong logistics fleet. Serves 124+ districts and towns in Turkey, delivering gas to areas where pipeline connection is economically or geographically unfeasible.
• Well CNG (Kuyu CNG) Transport of natural gas extracted from wells without pipeline access to the national transmission system. CNG system is used to capture and deliver gas from remote wells where pipeline connection investment is not justified or geographically impossible.

Quantifiable outcome

• CNG provides up to 9% higher operational efficiency in peak demand periods compared to other gaseous fuels (based on customer experience in 240 ton/hour capacity plants)
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Tekirdağ, Kırklareli, and Edirne Provincial AdministrationscoreStrategic or Co-development Partner · 22 December 2025Naturelgaz signed an agreement to supply natural gas to 23 settlements within Tekirdağ, Kırklareli, and Edirne provinces for the period 2026-2030. This is a government-coordinated City Gas project delivering natural gas to areas without pipeline access.
• Petrol Ofisi A.Ş.coreStrategic or Co-development Partner · 1 January 2021In 2021, Naturelgaz signed a cooperation agreement with Petrol Ofisi A.Ş. for establishing new Auto CNG stations at strategic locations along major logistics routes in Turkey. This partnership aims to expand the Auto CNG station network across Turkey.
• SOCAR Turkey LNG Satış A.Ş.coreStrategic or Co-development Partner · 1 January 2020In 2020, Naturelgaz acquired 100% of SOCAR Turkey LNG Satış A.Ş., adding Denizli and Ordu CNG filling plants, 6 new Auto CNG stations, and LNG distribution infrastructure to its portfolio. This acquisition significantly expanded Naturelgaz's market presence and operational capacity.
• PKF Aday Bağımsız Denetim A.Ş.minorOthersPKF Aday Bağımsız Denetim A.Ş. serves as Naturelgaz's independent auditor, conducting financial statement audits in compliance with Turkish capital markets regulations. Office: Eski Büyükdere Cad. Park Plaza, No: 14 Kat: 3 Maslak/İstanbul.
• BOTAŞ (Petroleum Pipeline Corporation)coreOthersBOTAŞ is a key supplier of LNG to Naturelgaz. LNG is sourced from BOTAŞ terminals and forms a major component of Naturelgaz's LNG product pricing (tariff, ÖTV, investment share components).
• Egegaz LNG TerminalcoreOthersEgegaz LNG Terminal is a supplier of LNG to Naturelgaz alongside BOTAŞ. LNG sourced from Egegaz is transported via Naturelgaz's tanker fleet to customer sites.

Scale indicators14 records

Recent moves11 records

Expansion highlights5 records

Broad incumbents

• ENN Energy Holdings: Large Chinese city-gas distribution utility serving residential, commercial, and industrial customers. Comparable as a regulated gas distribution platform with diversified customer mix, though focused on piped city-gas rather than off-grid CNG/LNG.
• Hong Kong and China Gas (Towngas): One of the world's largest downstream gas utilities with city gas distribution operations across Hong Kong and mainland China. Comparable as a mature, regulated gas distribution franchise with industrial and residential customer focus analogous to Naturelgaz's City Gas line.
• BOTAŞ (Petroleum Pipeline Corporation): Turkish state-owned pipeline and LNG operator that supplies Naturelgaz with LNG and sets the regulated tariff that anchors Naturelgaz's pricing formula. Comparable as the dominant natural gas transmission infrastructure provider in Turkey, though it operates upstream pipelines rather than off-grid distribution.

Direct peers

• AmeriGas Partners: Largest US propane (LPG) distributor delivering gas via cylinders and trucks to off-pipeline residential, commercial, and industrial customers. Comparable business model — distributed gaseous fuel via truck-and-cylinder logistics to customers without pipeline access — though fuel type differs.
• Ferrellgas Partners: US-listed propane and propane-derived alternative fuel distributor serving residential, industrial, and motor-fuel customers via a decentralized delivery network. Comparable cylinder/tanker logistics and customer overlap with Naturelgaz's industrial and auto CNG delivery model.
• Suburban Propane Partners: US-listed propane distribution company serving residential, commercial, industrial, and motor fuel customers via a cylinder/bulk delivery model. Closely analogous to Naturelgaz's industrial CNG delivery model in customer mix and logistics-dependent distribution structure.
• Iwatani Corporation: Japan's largest LNG and industrial gas distributor with extensive cylinder and tanker logistics. Comparable as an Asia-based off-grid LNG/CNG distribution operator with industrial, mobility, and city-gas customer segments similar to Naturelgaz's portfolio.
• Clean Energy Fuels Corp: US-listed CNG and LNG vehicle fuel distributor serving heavy-duty trucking and transit fleets. Directly comparable as a CNG/LNG distribution platform focused on off-pipeline mobility fuel, mirroring Naturelgaz's Auto CNG business line and well-to-customer logistics model.

Others

• Chart Industries: US-listed manufacturer of cryogenic equipment used in LNG and industrial gas supply chains, including storage tanks, vaporizers, and transport trailers. Comparable as an enabler/equipment supplier to off-grid LNG distribution operators like Naturelgaz, rather than a direct competitor.

Regional players

• Petrol Ofisi A.Ş. Turkey's largest fuel distributor and Naturelgaz's 2021 cooperation partner for Auto CNG station rollout. Comparable as a domestic fuel distribution incumbent extending into alternative fuels (CNG) through a partnership that mirrors Naturelgaz's own distribution ambitions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCGFEVNjG851ZmEyun_RXCzQ
• Facebookfacebook.com/NaturelgazSanveTicAS
• LinkedInlinkedin.com/company/naturelgaz
• Instagraminstagram.com/naturelgazas
• Xx.com/naturelgazas

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NATURELGAZ SANAYI VE TICARET AS