Italy attracts Russian oil companies like a magnet

NK "LUKOIL wants to become a major player in the retail fuel market of Italy, said in an interview with Italian newspaper Corriere della Sera Chapter Lukoil-Italia Nazim Suleimanov. "As a general idea of a 5 per cent market share has a right to exist", - he said. N. Suleimanov also reported that "the obstacles of the Italian government has no" and expressed confidence that authorities will not obstruct. According to him, the Company plans to establish a reliable and manageable network from north to south Italy. Summer of 2008, Lukoil and Italian ERG concluded a joint venture agreement to manage the CPP ISAB. The deal - 1347 billion euro. "LUKOIL to set up joint venture owned 49% interest, ERG - 51%. Lukoil is also in the next 5 years can be purchased from an Italian partner, another 25% or 51% in the JV. ISAB complex in Sicily is one of the largest in the region and focuses on the production of highly demanded in Europe, middle distillates (primarily diesel fuel and kerosene). The complex includes 2 oil refineries, the combined system of pipes and integrated into a single technological complex with capacity of processing 16 million tons per year. ISAB Complex able to process crude oil varieties Urals, which gives LUKOIL opportunity to integrate it into its export supply chain.