Russian giant Gazprom, the sole supplier of natural gas to Bulgaria, is preparing to enter the Balkan country's motor fuel retail market on which it targets a share of five to eight percent, Sofia-based Capital Daily reported on November 16.
Gazprom Neft, the oil arm of Russian gas Gazprom, has already launched its expansion in Bulgaria through its Serbian unit, Naftna Industrija Srbije (NIS) which has sealed deals for the purchase of several small filling stations in Bulgaria. Among them is not Bulgaria's Petrol which reportedly urgently needs money to repay a EUR100 m bond.
NIS will operate in Bulgaria through its local unit NIS Petrol EOOD which was registered in late August. Gazprom Neft acquired 51% of NIS shares in 2009.
Bulgaria has 3,122 filling stations. The local arms of Lukoil, OMV, Rompetrol and Petrol's subsidiary Naftex Petrol control a combined share of over 60% of the Bulgarian motor fuel retail market according to data of the Bulgarian anti-trust watchdog. Other big players include Shell Bulgaria and Eko-Elda Bulgaria, a subsidiary of Greek Hellenic Petroleum Group, which has a market share of around 7%.