Rosneft announces on supply increase of petroleum product to Turkey.
Rosneft signed a number of documents with Turkey’s leading energy companies on the sidelines of the top level negotiations between the President of Russia Vladimir Putin and the President of Turkey Recep Tayyip Erdoğan.
Rosneft and Demiroren Group Companies signed an Agreement on petroleum product supplies during 2018-2020.
The document follows up on the development of the existing partnership between the parties: in December 2016, a contract was signed for Rosneft to supply up to 840 th. t of diesel fuel.
The new agreement determines the intention of the parties to sign an additional contract for the supply of up to 4.6 mmt of oil products by 2020, of which 3.6 mmt of ultra-low-sulfur diesel-10 ppm and 1.0 mmt of liquefied petroleum gas. As a result of the implementation of the agreement, Rosneft will meet more than half of Demiroren’s annual demand for petroleum products.
When the agreement enters into force, Rosneft will significantly strengthen its positions in the Turkish market.
It became known in October of the previous year, Pterocas Energy Group, joint company of Davit Iakobashvili and Rosneft was engaged in the partnership agreement.
It notes, that the agreement means supply of petroleum products for Turkish company via the South – Caucasian transit corridor, as well as Georgian and Russian ports.