Gazprom Neft’s Bunker business enters the international market

27 March 2013

Gazpromneft Marine Bunker, operator of Gazprom Neft’s bunker business, has acquired its first international asset, Marine Bunker Balkan S.A. (Romania), which operates in the Black Sea port of Constanta, from Unicom Holding.

Marine Bunker Balkan S.A. manages two bunker vessels, one storage vessel with a capacity of 4,000 tonnes and two mooring barges, as well as leasing the Constanta Oil Terminal which has a capacity of 1,500 tonnes. Annual bunker fuel sales are expected to exceed 100,000 tonnes, resulting in Gazpromneft Marine Bunker becoming one of the largest bunkerage operators in the port of Constanta. Gazpromneft Marine Bunker plans to further expand its presence in Romania to the ports of Mangalia and Midia, with bunker fuel supplied from Gazprom Neft’s Russian and Serbian refineries.

The Black Sea port of Constanta is one of the top ten largest ports in Europe and the third largest in the Black Sea region, with annual bunkerage of over 400,000 tonnes. Constanta is situated at the crossroads of trade routes from Europe to Asia and represents a key link in the strategic shipping corridor of the Danube river. Trade and shipping corridors in the region are being developed, which means that Danube river transit and vessel docking in Constanta are expected to grow by 1-2% per year through 2025.

“The strategic objective of Gazprom Neft’s bunker business is to become a significant player in the international bunker fuel market. Gazpromneft Marine Bunker’s international expansion represents a key step in this direction. I am confident that the experience of working in the European market gained as a result of this acquisition, combined with our existing successful asset management in Russia, will further strengthen Gazprom Neft’s bunkerage position,” - Alexander Dyukov, Chairman of Gazprom Neft’s Management Board commented.

REFERENCE

Gazpromneft Marine Bunker is a subsidiary of Gazprom Neft, formed in 2007 to organise year-round supplies of vessel fuel and lubricants for marine and river transportation. The company leads the Russian bunkerage market with an 18.6% market share. Approximately 85% of the company’s customers are foreign ship-owners. Gazpromneft Marine Bunker sold a total of 2.9 million tonnes of vessel fuel in 2012. Into-board refuelling increased by 38% to 1.8 million tonnes.

The company currently has 9 regional representative offices and 2 subsidiaries: Gazpromneft Shipping, which manages the company’s fleet, and Gazpromneft Terminal SPb, which operates the bunkerage oil depot at the Kirovsky plant in St. Petersburg.

Gazpromneft Marine Bunker has a strong presence in all major Russian sea and river ports. The company currently has the best coverage of all Russian bunkerage companies, operating in 15 sea and 9 river ports across the country.