Russian lube maker Gazpromneft-Lubricants sold 900 tons of finished lubes in Georgia in 2016, or 20 percent more than the year before.
The South Caucasus former Soviet republic is a tiny lubricant market, with annual demand of just 11,200 tons in 2016, according to Gazprom Neft. But the company views it as a key stepping stone to expansion in the region. Next it plans to enter the Azerbaijan market.
Source: Gazprom Neft
Gazprom Neft said its growth in Georgia’s lubricants market stems from sales through its G-Energy branded service and fast lube chain, which now has four stations with two more in the works in Georgia, the South Caucasus former Soviet republic.
Last year we succeeded to capture 8 percent of the Georgias total lubricant market and sold there 900 tons of our products, Giorgi Shamatava, manager of the G-Energy Service project in Georgia, said in the companys Dec. 26 press release. Shipments to the country are coming from Russia and Italy. Our aim is to pass the 1,000-tons mark in 2017. G-Energy is Gazprom Nefts lubricant brand.
The company said its growth in Georgia stems from sales through its G-Energy branded service and fast lube chain, which now has four stations in Georgia with two more in the works. The company also has four stations in Armenia.
Altogether, Gazprom Neft has more than 50 stations in eight countries.