Unicom Holding is controlled by Constantin Iavorski, former energy minister in the Republic of Moldova.
Gazprom Neft also controls Serbia-based NIS, whose network of gas stations should reach 40 in Romania this year and start to use the NIS brand in December.
“The talks are in progress but they are solely focused on the bunkering operations in the Black Sea where we have storage facilities rented from Oil Terminal and two ships. The rest of the operations on the domestic market will remain as they are. It is hard for a player our size to cope in this area where competition among multinationals is fierce,” explains a source close to the deal. “Bunkering means fueling ships. Just as a car goes to the gas station to refuel, so does a ship come to us.”
The source said Gazprom took the first step and Unicom Holding would keep its bunkering operations in Galati and Drobeta Turnu Severin (SE and SW Romania).
“The deal should be completed by the end of the year. It is worth several million dollars, less than 10 million anyway,” the quoted source added.
The Gazprom division in charge of this business is Gazprom Neft Marine Bunker and its website shows its intentions for development on international markets in Europe, Middle East and Asia. Partnerships have already been signed with Petrol Offisi, a Turkish company controlled by OMV, the Austrian owner of OMV Petrom (SNP.RO) and with Mediterranean Shipping Company (Italy).
Moreover, NIS, the Serbian oil market leader owned by Gazprom Neft, has recently gotten into bunkering, and plans to expand in the region.
“NIS goal is to become the leader in the local market in the forthcoming years in the field of bunkering. In order to reach the set goals, this year, the company plans to open other two bunker stations in Smederevo and at the border with Croatia. Furthermore, the company plans to open special bunker stations for supplying boats and yachts, as well as purchase a vessel, which would supply large passenger ships. The joint market appearance in the Romanian market with the “Gazprom Neft Marine Bunker” – a daughter company of the Gazprom Neft is also expected,” reads the NIS website.
The deal with Unicom Holding gives Gazprom access to Romania’s largest port. Unicom Holding is the largest private oil product trader in Romania, which posted almost EUR180 million in revenue last year, up about 90% on 2010, according to the Finance Ministry data.
Gazprom’s move, beyond the clear bunkering business development goals, comes after it clearly stated its intent to expand on the Romanian market. After having completed upgrades of the Pancevo Refinery in Serbia this year, which took more than EUR200 million in investments, Gazprom is now ready to produce gas and diesel up to European standards and is practically forced to grow in the region. It plans for its gas station network to reach 40 filling stations this year and then expand to 120 branded as NIS by 2014, according to the latest information available.
“The first NIS gas stations will start operating in December,” other market sources said.
The extent of the Russian ambitions on the local oil market was only revealed last year, when the Rompetrol officials said they had received an offer from NIS for their entire gas station chain, the second largest on the market. Sources on the market said it had also been interested in a deal with Petrom for about 100 gas stations. Petrom denied it.
Gazprom is not looking at the oil sector only, as one of the companies it indirectly controls, Tise, was interested in taking over chemical plant Oltchim.
Its most important business in the energy field in Romania is the natural gas business; Gazprom supplies one third of the amount needed for domestic consumption. Romania has paid Gazprom via two intermediaries $10 billion for the gas used in the last eight years alone.
(English version by Loredana Fratila-Cristescu)