Russian oil major Gazprom Neft (SIBN.RS) plans to invest about $220 million in the bunkering industry, the corporate magazine of natural gas giant OAO Gazprom (GAZP.RS) reported Tuesday, according to the Prime-Tass news agency.
Gazprom is the parent company of Gazprom Neft.
Gazpromneft Marine Bunker, a subsidiary of Gazprom Neft, expects its annual sales to rise to 1.6 million metric tons by 2010, according to the magazine. No comparisons were provided.
Gazpromneft Marine Bunker aims to increase its share of Russia's bunkering market to 25% by 2015 and 30% by 2015. No estimates of Gazpromneft Marine Bunker's market share were available.