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Gazprom Leaves Turkey’s Domestic Market

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Gazprom has sold 71% of the shares of the Turkish company Bosphorus Gaz, follows from the documents of the company.

According to a source familiar with the situation, the deal was closed in September.

It was reported that Bosphorus Gaz managing director Adnan Sen signed an agreement with Gazprom to buy 71% of Bosphorus Gaz shares and after approval by the authorities, Bosphorus Gaz shares will be transferred to Sen Group.

In mid-June 2017, Gazprom Deputy Chairman Alexander Medvedev confirmed that the company was considering selling Bosphorus Gaz.

In 2004, Gazprom, through its German subsidiary Gazprom Germania ZMB GmbH, bought 40% of the shares of Bosphorus Gaz Corp. In 2012, another shareholder of the company, TUR Enerji, sold another 31% of the shares to Gazprom Germania.

Since 2014, Bosphorus Gaz has imported 2.75 bcm of gas, taking the market share of 5.58%.

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