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Alexander Dyukov: “We are always looking for opportunities to move into new markets”

Alexander Dyukov: “We are always looking for opportunities to move into new markets”
CEO and Chairman of the Management Board at Gazprom Neft, Alexander Dyukov

Gazprom Neft is always looking for new opportunities for adding value — in existing businesses, and also by moving into related or even completely new markets for us. And we’re already seeing some remarkable results here. For example — as recently as 15 years ago the company has virtually no presence in the marine bunkering or aircraft refuelling markets. And, today, we are, already, one of the market leaders in these sectors, operating not just in Russia but worldwide. The same can be said of lubricants and bitumens. Whereas, 15 years ago, we were, literally, shipping base oils direct from the plant, by tanker, today we are offering our clients not just products of a completely new quality, but also high-tech, customised solutions for using these.

We’re actively developing these business areas. Our next step in bunkering is going to be moving into the LNG bunkering sector. Gazprom Neft was the first company in Russia to start building its own LNG bunkering vessel — which has already been successfully put to sea, for commissioning, we expect, later this year. If we’re talking about the bitumens business, then the skills we have developed are now allowing us to establish our own roadbuilding company.

We take a product-based approach to everything we do, and believe that add-on products and businesses can appear at any point in the value chain. The company is already monetising its skills and competencies in drilling, logistics, developing new technologies, and much more. These make up just a small part of our income, so far, but they’re going to grow.