Gazprom Neft Board of Directors Reviews the Development of Export Sales Channels

Press-release Efficiency

The Gazprom Neft Board of Directors has reviewed the management of export sales channels for the crude and oil products leaving the company’s refineries, as well as assessing the effectiveness of such channels, and the outlook for development.

Gazprom Neft is currently represented in all key global markets, from the Asia—Pacific region to Europe, with the company exporting 21.8 million tonnes of crude oil and 7.1 million tonnes of oil products in 2017.

Arctic crudes are one of Gazprom Neft’s priorities in terms of export sales, with the company having put in place a unique logistics scheme to meet that objective — the key elements of which include the Prirazlomnaya offshore platform, the Arctic Gates terminal, a fleet of reinforced ice-class tankers, and a trans-shipment terminal in the Port of Murmansk.

The company’s 2017 results show exports of ARCO crude from the company’s Prirazlomnaya field reached 2.9 million tonnes last year, with export volumes from the Novoportovskoye field — Novy Port crude — growing to 5.9 million tonnes. This growth in export volumes and greater efficiency in sales, are the result of acquiring new customers, expanding the company’s geographic range in terms of oil deliveries, and the stability of the logistics scheme, as well as the unique qualities of these oil blends, per se.

Total sales of Gazprom Neft light-sulphur ESPO crude, exported by the pipeline of the same name (the Eastern Siberia Pacific Ocean pipeline) to the port of Kozmino are stable as at end-2017, at 2.3 million tonnes. More than 50 percent of ESPO export volumes are supplied to customers in China.

Gazprom Neft is committed to increasing the market share of its Arctic blends in Europe, on the basis of their competitive edge, and through investigating new sales opportunities.