Gazprom Neft consolidates bitumen operations in new specialist company

1 October 2014

Gazprom Neft has established aspecialist subsidiary— Gazpromneft— Bitumen Materials LLC— bringing together all management functions pertaining toits bitumen business.

The key objective ofthe new enterprise will bethe fulfilment ofthe long-term strategy ofthe Gazprom Neft bitumen business, interms ofdelivering greater effectiveness inasset management, insecuring market leadership through the adoption and implementation ofcutting-edge production technologies, and through the development ofpromising opportunities, consistent with key industry trends.

The company’s revised strategy ispredicated onits increasing sales volumes ofbitumen materials to2.4 million tonnes by2025— something the company plans toachieve byextending its activities inmarkets throughout Russia, Central Asia and Southern Europe.

Gazprom Neft has significantly increased bitumens production capacity inrecent years, both inRussia and throughout the CIS. Modernisation ofamajor bitumen facility atthe company’s Moscow Oil Refinery was undertaken in2012, with the company announcing the purchase ofabitumen factory inKazakhstan in2013, aswell asthe purchase ofthe most significant polymer-modified bitumen plant inRussia, located inRyazan. Together with French concern Total the company began production ofanew generation ofpolymer-modified asphalt cements under the G-Way Styrelf brand in2014.

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REFERENCE

Gazprom Neft isone ofRussia’s leading producers and suppliers ofbitumen products, actively developing this business sector since 2008.

The company’s key production facilities are based inthe Moscow, Omsk, Yaroslavl and Ryazan Oblasts, aswell asinSerbia and Kazakhstan. The company’s refining facilities produce road, construction and roofing bitumens, aswell aspolymer-modified asphalt and bitumen emulsions.