“Daughter” of “Rosneft” will start to deliver gasoline to Iran

The company Petrocas Energy Group, 49% of which Rosneft acquired for $144 million in January 2015, plans to start supplying gasoline and diesel fuel to Iranian ports of neka and Anzali via own oil terminal in the Georgian port of Poti. About it RBC was told by the CEO of the Petrocas Energy Group Vano Nakaidze and confirmed its majority shareholder, David Yakobashvili (owns 51%) .

According to Nakaidze, the capacity of the terminal in Poti — about 3 million tons of petroleum products a year, now it’s loaded with 1-1. 5 million tons Through the terminal are supplies of light oil products to Armenia (80% of consumption in the country) and the countries of Transcaucasia. In Poti also have a special container for storing gasoline. In the direction of the Caspian sea for transportation of petroleum products to Iran fuel is planned to be transported by rail to the ports of Azerbaijan, including in Baku, and from there by tankers across the Caspian sea to the ports of Iran, says a top Manager.

In order to enter the Iranian market and to put at least 1 million tons of gasoline per year, Petrocas plans to expand the terminal to buy more tanks and special rail cars for transportation of oil cargo, to equip railway tracks and infrastructure for the mooring of heavy tankers, and for handling products on tankers in the Caspian sea, told RBC co-owner David Yakobashvili. He estimates the investment in such upgrades in the $100-200 million, and claims that the company has on its own funds.

According to Nakaidze, Iran is planned to be spent from 2017 and put through Poti to 3 million tonnes per year, of which about 1 million tons of gasoline will be exported to Iran, and the rest of the petroleum products will be purchased in Turkmenistan and Kazakhstan for delivery to Europe. According to Nakaidze, at least half of the planned fuel supplies to Iran (0.5 million tons) will provide the partner his company — “Rosneft” (while Iran is not among the major buyers of petroleum products of state-owned companies, follows from its reporting).

“If our plans to create a route to Iran through the South Caucasian corridor is feasible, that Petrocas will take into account the desire of “Rosneft” to enter the Iranian market with their fuel,” said Yakobashvili. From Kazakhstan and Turkmenistan via the South Caucasus gas corridor to import oil products and crude oil for resale in Europe, he added.

Press Secretary of “Rosneft” Mikhail Leontyev did not comment on interest “Rosneft” to enter the Iranian market for the sale of gasoline. In December 2015, the head of “Rosneft” Igor Sechin has held a meeting with Minister of oil of Iran Bijan Zanganeh to discuss investments in projects in the oil and gas projects), told the Russian energy Minister Alexander Novak.

Terminal and refueling

Petrocas owns oil terminal in the port of Poti with a capacity of 3 million tonnes of petroleum products annually and manages a retail network of gas stations Gulf in Georgia, Armenia, Azerbaijan, and Kazakhstan, consisting of more than 200 gas stations. The company plans to increase the number of stations in five times, to 1 million, the network will be expanded in the countries of the Caucasus and the Balkans, said RBC Nakaidze. According to him, the stations will be built from scratch or purchased ready network. The construction cost of one filling, according to him, range from $100 thousand to $500 thousand Petrocas also engaged in trading of petroleum products in Transcaucasia, in the Caspian and black sea countries.

RBC failed to review the representative of the Ministry of petroleum of Iran. In mid-June, Zanganeh said that the country produces more than 3.8 million barrels. of oil per day, of which about 2 million barrels. exported. Despite this, the country still maintains a deficit of gasoline. Iran plans to 2020 to build five oil refineries to increase oil refining volumes from 1.85 million to 3.2 million barrels. per day to reduce its dependence on gasoline imports, told Bloomberg managing Director of National Iranian Oil Refining & Distribution Abbas Kazemi on June 13. Investment in the construction of new plants Kazemi did not name, noting that modernization of the existing refinery will require $14 billion investment. Yakobashvili doubt that Iran will succeed in such a short time to solve the problem of shortage of gasoline: “Sanctions against Iran until the end is not removed, and without Western equipment, they will not be able to build factories”.

As of March 2016 gasoline consumption in Iran amounted to 70 million liters per day, of which 9 million liters were imported (or about 6.8 thousand tons), reported Bloomberg, citing National Iranian Oil Products Distribution Co. Thus, in annual terms imports around 2.5 million tons and accounts for about 13% of domestic consumption.

In Iran there really is a shortage of gasoline but to haul petroleum products from Russia there, even through the South Caucasian corridor is expensive and logistically difficult, warns analyst Sberbank CIB Valery Nesterov. Terminal in Poti is located on the Black sea, and the ports of reception of goods in Iran in the Caspian sea. As a result, need multiple overloads with the tanker on the tanker with the carriage on the railway: failure of the chain at any stage is reflected in the timing of delivery to the consumer,” — said the expert.

Nakaidze, argues that the logistics of supply of light oil products with the use of ports and Railways for Petrocas profitable and for several years was tested on the supply of petroleum products from Europe to Armenia and Afghanistan.