Turkish BDY Group, operating in liquefied petroleum gas (LPG) wholesale, logistics, warehousing and mining sectors, completed the acquisition of the Russian Petgaz company that runs Turkey's largest LPG storage terminal, a board member of the Group, Koray Guzelderen, told Anadolu Agency.
He said negotiations for the acquisition of the terminal located in Dortyol, Hatay, a southern city in the Mediterranean, started three months ago.
"We completed a significant investment by acquiring Petgaz. The company has Turkey's largest LPG storage terminal with 64,150 cubic meters of capacity," Guzelderen noted.
He explained that the investment would play a critical role both for Turkey's energy security and the company's LPG activities in terms of increasing exports.
"We aim to enhance the company's export volumes to the Mediterranean market from the terminal as well as expand export markets to European countries," Guzelderen noted.
As the BDY group, he said the acquisition would allow for the expansion of their logistics personnel to 100, the creation of more jobs in their vehicle fleet and offer new opportunities for new foreign partnership in the future
Energy company BP sold Petgaz to Petgaz BV in 2012.
By Nuran Erkul Kaya