Natural Gas Operations

Complementing the receipt of an import contract pertaining to an annual volume of 750 million cubic meters from BOTAŞ, awarded as a consequence of a contract transfer tender, Bosphorus Gaz Corporation A.Ş. (“Bosphorus Gaz”) eventually signed an import agreement with Gazprom Export LLC on May 22, 2007.

In conjunction with the pertinent license obtained from the regulator EMRA on October 18, 2007, our Company commenced full-fledged importation and wholesale operations on January 3, 2009, thereby emerging as the first and foremost importer and wholesale supplier of this critical fuel in Turkey’s nascent market.

Participating effectively in the deregulation and liberalization process of the Natural Gas Market in Turkey, Bosphorus Gaz has handled natural gas trading amounting, in total, to 967 million Sm3 in 2010 and 812 million Sm3 in 2011. On the basis of a new import agreement concluded with Gazprom Export LLC on August 9, 2012, relating to an aggregate quantity of 1,750 million cubic meters, and further bolstered by an import license dated November 26, 2012, our Company’s total natural gas import and wholesale volume has cumulated to 2,500 million cubic meters for 2013 and thereafter.

Moreover, the Spot LNG import license acquired on January 17, 2013 – conveniently enabling us to project a turnover target figure of over one billion dollars for 2013 – has further reinforced Bosphorus Gaz’s insurmountable status as the sector’s leading corporate actor in the private domain. Ranked prominently as the experienced and powerful company of the Turkish Natural Gas Market, still undergoing significant transformation motivated by the on-going and far-reaching deregulation and liberalization strides, Bosphorus Gaz is resolved to fortify its growth saga, pillared on the “win-win” principle engendered with its clients bearing the “eligible consumer” status.