Lukoil plans to enter the retail fuel market of Kazakhstan by launching a franchisee project.
Russian oil companies are showing great interest in Central Asia after their access to European markets was affected by EU and G7 sanctions, the report says. Lukoil plans to offer a franchise to local fuel retailers and then supply them with gasoline from Russia and Kazakhstan. The proposal is under development, the details are yet to be discussed.
Representatives of the company met with the Kazakhstan Fuel Association (KFA) on March 13, 2023 at a site sponsored by the Ministry of Energy of Kazakhstan, a source who was among the participants said. According to him, the number of gas stations and possible regions of work were discussed. KFA confirmed the meeting between the members of the association and Lukoil, but did not provide details.