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Cooperation Agreement between Gazprom Neft & Vologda

Source: www.gulfoilandgas.com 10/22/2012, Location: Asia

Gazprom Neft and the Vologda Oblast Government have concluded an agreement on socioeconomic cooperation. On October 19, Alexander Dyukov, Gazprom Neft Chairman of the Management Board, and Oleg Kuvshinnikov, Vologda Oblast Governor, signed the document.

The principal directions of cooperation between Gazprom Neft and Vologda Oblast will be the implementation of economic and social projects. In particular, the company intends to develop the petroleum products supply system in the region.

Gazprom Neft is already cooperating actively with government institutions that oversee road construction in Vologda Oblast, supplying asphalt from its oil refineries in Moscow and Yaroslavl. The company plans to allocate substantial funds for the creation of a network of gasoline stations in the region. In its turn, the Vologda Oblast Government will continue to conduct a policy aimed at incentivizing investment. “For Gazprom Neft, Vologda Oblast is one of the promising regions of development where the company intends to step up its operations and expand investment,” Alexander Dyukov stresses. “Our experience of working with the regions where the company operates has clearly demonstrated that Gazprom Neft’s presence has a positive effect not only on the investment climate, but on living conditions and the development of infrastructure.”

“The Government of Vologda Oblast is concluding an agreement with Gazprom Neft for the first time,” noted Oleg Kuvshinnikov. “A new, major investor is appearing in the region, and that will facilitate the development of the fuel market, job creation, growth of the tax base, and tax revenue. We expect cooperation with the company to be long-term, and are prepared to ensure the required beneficial conditions for the implementation of investment projects.”

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