(Read the full article on turan.az)

SOCAR may buy the Ukrainian network of gas stations Glusco, Turan reported, citing Ukrainian media reports.

“The owner of the Ukrainian network of gas stations Glusco, Nisan Moiseev, put the asset up for sale literally right after the announcement of the termination of fuel supplies by Rosneft – in mid-March this year. The negotiations are now at the final stage.  No one in Ukraine received an offer to buy; Moiseev sent an offer only to international companies,” the publications report.

The sale of the gas station network to SOCAR should be considered in conjunction with the contract signed by the Azerbaijani company for the supply of Rosneft oil products to Ukraine.

“Negotiations with SOCAR may complete next week. After that, the deal must be approved by the Antimonopoly Committee of Ukraine,” the media indicate.

SOCAR started its activities in Ukraine in 2008. The company owns a network of filling stations in Ukraine, and operates 55 stations and has a market share of about 2.5-3%.

The retail network of Glusco filling stations in Ukraine includes 127 filling complexes and 6 oil depots.