Russian Rosneft enters Kyrgystan fuel market

January 23, 2014

On 22 January 2014, Igor Sechin, Rosneft President and Chairman of the Management Board, held working meetings with Albek Ibraimov, OAO Manas International Airport President, and Mr. Alexander Niyazov, Bishkek Oil Company Group of Companies General Director, to discuss Rosneft's opportunities to enter the fuel market of Kyrgyzstan, Rosneft’s press service has reported.
Following the meeting, Rosneft and Manas International Airport signed the Memorandum of Understanding. Pursuant to the document Rosneft will consider an opportunity to acquire no less than a 50% stake in the Refueling Complex at the airport in the city of Osh. The airport in Osh is one of the largest airports in the region with the passenger flow exceeding 1 million people a year.

Under another Memorandum of Understanding that was signed by Rosneft, the Company will consider an opportunity to acquire a 100% stake in Bishkek Oil Company Group of Companies, one of the leaders in the Kyrgyz petroleum products market.

Source: Rosneft Press Office, 2014