Spotlight: Unocal Plans Natural Gas Venture in Turkey

Unocal Corp. said it signed a letter of intent with Istanbul-based Koc Holdings to create Turkey’s first private distributor and marketer of natural gas. El Segundo-based Unocal said the new company will buy, sell and transport natural gas to customers in Turkey. It would also evaluate whether to build a pipeline to accommodate the privatization of Turkey’s energy industry. Turkey, which produces 2.8% of its natural gas consumption, expects natural gas demand to triple by 2010.