Azerbaijani GL Group Group of Companies acquired a 25% stake in Gazelle Energy Limited, which is developing a gas field in the tracia.
The company notes that GL Group, which is the first private group of energy companies in Azerbaijan, took its first strategic international step, starting the reconnaissance and production of natural gas in Turkey.
GL Group acquired a 25% shares of the Canadian company Gazelle Energy Limited, which owns a 100% license for reconnaissance and operation of the F17-B4 section in the northwestern part of Turkey, in Trakia. The area of this licensed site is about 145 square kilometers, and the explored reserves are approximately 1.9 billion cubic meters (65 billion cubic feet).
“Our access to the Turkish energy market marks the beginning of an important new stage for GL Group. This first international acquisition is not only strategically important, but also strengthens the GL Group position as a regional player in the sector, strengthens our positions and supports our future growth in region, ”said Asif Zeynalov, General Director and Chairman of the Board of Directors GL Group,