Gazprom Neft buys retail chain in S. Russia for $40 mln
MOSCOW. Nov 9 (Interfax) - Gazprom Neft has acquired a chain of 21 filling stations and one tank farm in the Krasnodar Territory for about $40 million, the head of the economics and investment in the oil company's downstream division, Vladimir Konstantinov said in a conference call on Tuesday.
The deal to acquire the chain was closed in late September.
Gazprom Neft plans to increase the number of its filling stations in the Southern Federal District six-fold to 120 by 2013 by buying existing stations and building its own. Sales of oil products are targeted to grow to 230,000 tonnes per year by 2013 from 9,000 tonnes at present.
Gazprom Neft in April 2011 formed the subsidiary distribution company Gazpromneft South to develop its business in southern Russia. The company's filling stations in Krasnodar Territory are supplied by the Astrakhan Gas Processing Plant, which is owned by Gazprom .
Gazprom Neft has about 1,100 filling stations in Russia and other CIS countries. Sales of oil products through the company's filling stations on the domestic market grew by 18% to 3.047 million tonnes in 2010.