Firm enters gas storage

ISTANBUL - Hürriyet Daily News

Sky Harvest Windpower has announced it formed a joint venture corporation under the name Levant Energy, a Canadian corporation, to develop underground natural gas storage plants in Turkey.

The company announced May 29 that it completed a private placement financing consisting of the sales of 818,000 shares of its common stock at a price of $0.25, bringing in proceeds totaling $204,500, which Sky Harvest plans to use toward a proposed natural gas storage venture in Turkey.

Currently, Turkey’s installed storage capacity is about four percent and there are only two adjacent, seasonal, natural gas storage sites operating in the country, with one additional site to be developed.