Aerofuels to Fuel from Tanker
Aerofuels that is the jet fuel supplier and operator of fuel facilities is going to buy a tanker fleet to deliver kerosene to the airports of Far East.
Aerofuels unveiled yesterday the plans to establish its own tanker fleet so that the oil tankers could deliver jet fuel to airports of Far East, first of all to Petropavlovsk-Kamchatsky, where the company has recently built fuel stations. The project budget will exceed 500 million ruble ($20.4 million). Nowadays, Aerofuels is in talks with Sberbank, VTB and Citibank about raising the loan.
Aerofuels owns a chain of 14 fuel stations in Russia’s airports. It arranges and renders fueling services in 20 airports of federal significance. The overall amount of filled aviation kerosene exceeded 500,000 tons in 2007. Another business of the company is constructing alternative fuel stations, and the budget of this undertaking is roughly 1.5 billion ruble.
With the fleet in ownership, Aerofuels hopes to cut down ex-work prices by 1,000 ruble/liter. The company has to reduce prices to lure clients to its alternative fuel stations, but $20.4 million that it plans to appropriate for this purpose will hardly suffice, the analysts speculate.
Oleg Panteleev, head of Aviaport analytical agency, said that, by reducing the costs, Aerofuels will attempt to build up the price advantage in the airports where it has alternative fuel stations “Besides, the company gets a chance to secure itself against potential pressure of Russia’s producers of jet fuel. It may buy it in Korea, for instance,” the expert supposed.
www.kommersant.com
All the Article in Russian as of Aug. 19, 2008
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