Rosneft and Ministry of Transport of Mongolia to Continue Cooperation on New Ulaanbaatar Airport
7 september 2017
Rosneft and the Ministry of Road and Transport Development of Mongolia signed basic terms of cooperation for development of optimal technical solutions, commissioning of hydrant system and jet fuel supply in the new Khöshig Valley Airport in Ulaanbaatar. The document was signed by Rosneft Chief Executive Officer Igor Sechin and Minister of Road and Transport Development of Mongolia Dangaa Ganbatduat in the course of the Russian-Mongolian high-level negotiations on the sidelines of the Eastern Economic Forum.
The purpose of signing the document is to provide assistance to the Mongolian party in commissioning jet fuel supply facilities of the new airport and to ensure uninterrupted supply of Rosneft jet fuel to the Mongolian market which is strategically important for the Company.
"Development of business in Mongolia is a part of our strategy, our Subsidiary Rosneft-Mongolia operates in the country dealing with wholesale fuel distribution offering the best financial conditions and committed to its contractual obligations. Over years of our work in the Republic we earned the reputation of a reliable and diligent supplier among our Mongolian colleagues. With our Mongolian colleagues we set up the joint venture Mergevan which supplies jet fuel for Chinggis Khaan International Airport in Ulaanbaatar. We have vast experience of work on this niche market and evident logistical advantages" - Igor Sechin said.
Notes for editors:
Rosneft supplies gasoline and diesel fuel, jet fuel, lubricants, fuel oil, bitumen materials and LPG to Mongolia. Owing to long-term deals signed in 2014 the share of Rosneft in the Mongolian market increased to 80%. The Company supplied 0.8 mmt of light oil products to Mongolia in 2016.
In 2008 Rosneft set up the joint venture Mergevan with Sod Mongol Group on the 50/50 basis. Fueling facility of the JV operates in Ulaanbaatar's Chinggis Khaan airport.
Completion of construction and commissioning of new Ulaanbaatar airport with new jet fuel supply facilities including fuel hydrant system is expected in 2018.