Gazprom gets a controlling stake in Turkey’s largest gas distributor

Gazprom gets a controlling stake in Turkey’s largest gas distributor
# 19 August 2009 14:09 (UTC +04:00)
Baku-APA-Economics. Russian gas monopoly Gazprom’s subsidiary has said it is increasing its share in Turkey’s Bosphorus Gas Corporation A.S. from 40% to 51% to hold a controlling stake, Kommersant reported.

Gazprom Germania ZMB GmbH, a subsidiary of Gazprom, said it will also consider rasing the stake to 71% in the future.

Bosphorus Gaz Corporation A.S. was established by Turkish Tur Energji in 2003. The company purchases natural gas from Russia and other countries, transports, distributes and stores in Turkey and abroad.

In 2007, Gazprom signed a contract to supply T Bosphorus Gas A.S. with 750 million cubic metres of gas a year until 2021.
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