The Sochi International Investment Forum 2016 has seen Gazprom Neft conclude an agreement with the Kamchatsky Krai regarding collaboration on import substitution in lubricants, as well as the provision of bitumens for road construction. The document was signed by Marina Subbota, Deputy Chairman of the Government of the Kamchatsky Krai, and Alexander Dybal, member of the Gazprom Neft management board.
Under the terms of this agreement Gazprom Neft will extend its collaboration with regional enterprises in selecting domestically-produced lubricants able to replace expensive imported alternatives completely. Priorities in import substitution include energy, utilities and the industrial complex. In addition to this, the company will also provide its partners with fully certified engineering and service support. Gazprom Neft will also increase supplies of G-energy brand motor oils throughout the region, allowing car owners to reduce servicing costs.
According to analysts, annual demand for lubricants in the Kamchatsky Krai is expected to exceed 4,500 tonnes. Concluding this agreement will allow a significant reduction in import dependency as early as end-2016, allowing a reduction of approximately 20 percent in the regional budget for the procurement of lubricants and fuel.
The agreement also envisages Gazprom Neft supplying cutting-edge bitumen materials for road construction, as well as an expansion in research and development activities in developing bitumen formulations fit for the local climate. A section of test road is to be built within the Kamchatsky Krai for performance testing of Gazprom Neft high-technology products. Ten such test roads are already in use throughout Russia and Kazakhstan, proving, in practice, the advantages of modern materials over traditional bitumens.