Bosphorus Gaz Corporation is a gas importer and distributor in Turkey. It controls about 3% of the Turkey's natural gas market.[1] The company was established in 2003 in Istanbul. In 2004, Gazprom Germania a subsidiary of the Russian gas company Gazprom, became shareholder in Bosphorus Gaz.[2] In 2009, Gazprom raised its share in the company from 40% to 51%.[1] Later this year, Gazprom Germania acquired additional 20% of shares.[2][3] This acquisition is pending of approval from Turkish authorities. Rest of the share are hold by Tur Enerji, a joint venture of the Şen family and Ringas Management B.V.[2] In 2005, Bosphorus Gaz won a tender to resell until 2021 750 million cubic meters of the gas purchased by the Turkish energy company BOTAŞ from Gazprom.[1] According to Gazprom, Bosphorus Gaz explores various possibilities of participating in the privatization of the country's gas distribution networks and in building underground gas storage tanks in Turkey.[1]