Akpet operates 693 gas filling stations on the basis of dealer agreements, accounting for about 5% of the Turkish retail market.
Other assets which are part of the agreement include eight oil product terminals with a total capacity of 300,000 cubic meters (cbm), five liquefied natural gas (LNG) storage tanks with a total capacity of 7,650cbm, three jet fuel terminals with a capacity of 7,000cbm and a motor oil production and packaging plant with a total capacity of 12,000 tons per year.
According to Lukoil, six of the eight Akpet oil product terminals have access to the sea shipment routes, while three of the eight oil terminals are connected to the Tupras refinery by a product pipeline network. Supplies of oil products for sale through Akpet retail outlets will be ensured from the Lukoil Neftokhim Burgas refinery in Bulgaria and the ISAB refinery in Sicily, Italy.
Vagit Alekperov, president of Lukoil, said: Acquisition of large retail assets in Turkey expands Lukoil international retail network by 18%. It is one of the key elements of the company’s downstream strategy in the Black Sea and Mediterranean markets, aimed at supply of our products to end-users with high added value.
