Russia's Gazprom Neft to Acquire 11 New Filling Stations in Bulgaria
Gazprom Neft, a subsidiary of Russian energy giant Gazprom, plans to expand its filling station network in Bulgaria by 11 sites.
According to a media statement of Bulgaria's Commission for Protection of Competition (KZK), the 11 filling stations are currently owned by OMV Bulgaria, Burgas-based Bultrans Oil, and Plovdiv-based Lite Commerce.
Gazprom Neft is to acquire the new filling stations through NIS Petrol, a subsidiary of Gazprom Neft's Serbian unit Naftna Industrija Srbije.
According to reports of Capital daily, citing sources close to the matter, four of the eleven filling stations are owned by fuel retailer OMV Bulgaria.
After the acquisition of the new filling stations, Gazprom Neft will have a network of 35 sites and 12 terrains.
Four of the 12 plots are on the Trakia highway and greenfield construction is expected to start in 2014. The chain plans to operate around 50 sites by end-2014
Russian Gazprom Neft set foot in Bulgaria and the region in 2009 after it acquired the majority stake in state-owned Naftna Industrija Srbije (NIS) and made investments into the expansion of the production capacity of the oil refinery in Panchevo.
The company started building a filling station chain in Bulgaria in the autumn of 2011.
The company decided to develop in small steps instead of sealing a deal with a major competitor, buying and renting a number of filling stations, some of which were working under franchise agreements with other chains on the market. The company also bought terrains for building new filling stations.
- » Europe to Rely Heavily on Russian Gas Until 2020 at Least, Fitch Says
- » Bulgaria Decides to Set up Energy Board
- » NEK Hikes Power Prices For Some Companies
- » Russia Energy Minister, EU Energy Commissioner to Discuss South Stream
- » Power Rate Hike Will Not Affect Big Enterprises in Bulgaria – Expert
- » Bulgarian Energy Holding 'Awaiting BGN 1.45 B' from Subsidiaries