KKCG SE buys Russian oil terminal

Parent company of billionaire Karel Komárek’s investment group set to become sole owner of oil terminal linked to the Druzhba pipeline

Companies|Energy & Green Biz
Lukáš Novotný | 17.03.2011

KKCG SE, the mother company of the investment group owned by entrepreneur Karel Komárek, is to buy an oil terminal in the Samara region of Russia, approximately 1,000 kilometers southeast of Moscow. The private Russian gas producer Itera is selling the terminal. The transaction has yet to be approved by Russia’s anti-monopoly office, but if all goes to plan the deal should be finalized in the first half of this year.

The terminal with an annual capacity of 3.4 million tons was launched into operation this year and is connected to the Druzhba pipeline – the main route for oil deliveries from the former Soviet Union to the CEE region.

KKCG haw not revealed how much it has agreed to pay for 100 percent state in the terminal.  

“The Russian Federation is one of the regions where we want to develop our activities long-term. We search for particularly advantageous investment opportunities in one of our main areas of business – in the oil and natural gas sector,” KKCG’s executive director Jiří Radoch said in a press release on Thursday.

The KKGC group has assets valued at over Kč billion and has more than 3,000 employees. 

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