Gazprom Neft and RUSAL Sign Long-Term Coke Supply Contract
Dec 02, 2011
OTC Disclosure News Service
Moscow, Russian Federation – Gazprom Neft and RUSAL have recently signed a long-term contract for supplies of electrode petroleum coke. This contract is concluded for five years and shall come into effect starting January 1, 2012. This is the first long-term contract between the parties: the previous contracts between Gazprom Neft and RUSAL did not last more than two years.
The coke will be supplied from the Omsk Refinery, the largest of Gazprom Neft’s refining assets. Under the contract, RUSAL shall receive from Gazprom Neft up to one million tons of petroleum coke within five years.
Levan Kadagidze, director of Gazprom Neft’s Commercial Directorate, emphasized: “The long-term contract with Gazprom Neft’s strategic partner – RUSAL gives our company an efficient and guaranteed coke distribution channel and proves the parties’ commitment to mutually beneficial cooperation”.
Pavel Ovchinnikov, RUSAL Commercial Director, noted: “Gazprom Neft is our proven and reliable partner owing best-in-class technologies. Broadening cooperation with the strategic supplier of high-quality coke product gives new opportunities for RUSAL. Considering our expansion plans, this contract will become an important element in the supply chain for our Boguchansk and Taishet aluminum smelters projects”.
In the mid-term perspective, Gazprom Neft plans to upgrade the Omsk Refinery’s coke production facilities. As of now, the company is considering options to improve coke production efficiency of the existing coke plant and build new production units.
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