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Gazprom Neft gains 20% share of Russian low sulphur bunker fuel market in 2020

19 Feb 2021

Russian oil producer Gazprom Neft on Thursday (18 February) said its bunker trading arm, Gazpromneft Marine Bunker saw an increase of IMO 2020 compliant bunker fuels to 1.1 million tonnes at the end of 2020.

This is a 3.5 times increase compared to 2019 and represents a 20% stake in the Russian low sulphur fuel market, it added.

A third of the sales volume came from ports in the Baltic, Barents and White Seas, and the company had deployed its ice class bunker tanker Gazpromneft Nord-East from St. Petersburg to support bunkering operations in the Arctic regions of Murmansk and Arkhangelsk.

Gazpromneft Marine Bunker said it will continue to develop its newly formed LNG bunkering segment for domestic shipping.

In August 2020, the company became the first Russian oil company to become a member of the SGMF (Society for Gas as a Marine Fuel) association, which develops and standardizes technologies for the production, storage and transportation of liquefied natural gas.

In December 2020, Dmitry Mendeleev, the first LNG bunkering vessel in Russia entered the final stage of its construction where it was launched into the water and the final stage of installation work is now underway. Dmitry Mendeleev is expected to be commissioned in the second half of 2021.

“The MARPOL requirements that came into force in early 2020 have changed the fuel landscape for the entire shipping industry: instead of traditional marine fuel oil, petroleum products with a sulfur content of less than 0.5% are increasingly in demand,” said Alexey Medvedev, CEO of Gazpromneft Marine Bunker.

“Investments in modernising operations were planned in advance at Gazprom Neft, which made it possible to start production of environmentally friendly fuel at the Omsk Refinery in advance and to meet the growing demand for petroleum products with high environmental characteristics”.

Related: Gazprom Neft LNG bunkering business strategy on track for 2H 2021 despite pandemic
Related: Gazprom Neft launches its first LNG bunkering vessel ‘Dmitry Mendeleev’
Related: First Russian LNG bunkering vessel by Gazpromneft nears construction completion
Related: Gazpromneft LNG bunkering operations for STS to start from 2021
Related: Gazpromneft and Rosmorport to cooperate in LNG bunkering
Related: Gazprom Directors discuss prospects of LNG bunkering market
Related: Gazpromneft Marine Bunker adopts ISO LNG bunkering standard

Photo credit: Gazprom Neft
Published: 19 February, 2021


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