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Rosneft and Rostec intend to cooperate in the development of the gas engine fuel market
07 June 2019Rosneft and Rostec Corporation at the XXIII St. Petersburg International Economic Forum signed Cooperation Agreement for the development of the gas motor fuel market.
The document was signed by Avril Conroy, Rosneft Vice President for Retail Business and Domestic Market Development and Maksim Vybornykh, Deputy General Director of Rostec.
Under the conditions of the agreement the parties will prepare a pool of projects for upgrading of Rosneft retail sites with equipment produced by Rostec companies for combined sales of liquefied natural gas (LNG) and compressed natural gas (CNG) as a motor fuel.
The parties also plan to develop cooperation for supply and servicing of equipment required for storage and sales of gas motor fuel and for implementation and application of modern high quality innovational materials and technologies developed by Rostec State Corporation.
The development of the gas refill compressor stations network in Russia is a key priority of Rosneft's Retail Strategy. Natural gas is the most environmentally safe and economically efficient fuel helping the car owners to reduce their fuel costs and to increase the efficiency of the their vehicles with reduced environmental footprint.
For reference:
The company intends to develop gas filling infrastructure in the regions of the Russian Federation in accordance with the needs of the market. To this end the Company implements the Program for development of CNG sales network and in 2018 a Joint Venture Agreement was signed with Beijing Gas for development of gas filling network. The parties are planning to build about 170 CNG filling stations in Russia, and will consider using LNG as a motor fuel. In addition to the Join Venture the Company plans to internally upgrade the existing retail site network with 80 CNG filling modules.
Information Policy Division
Rosneft Oil Company
tel.: + 7 (499) 517-88-97
Friday, June 07, 2019
These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.