Russia’s Lukoil to buy more gas stations in West Europe

Lukoil has disclosed its plans to buy 250 gas stations in Belgium, the Netherlands, and Luxembourg, according to rbth.com and Russian daily Kommersant.

This has been a shift from East to West on the part of the Russian private oil giant as it has already started selling around 240 gas stations in Lithuania, Latvia, and Poland due to weak sales reportedly brought about by “anti-Russian” sentiments.

Lukoil Vice President Vladimir Nekrasov announced that the purchase deal will be finalized this year but did not give further details on the seller’s identity or the value of the transaction.

Currently, there are around 200 Lukoil stations in Belgium, 450 stations in Finland, and a large network of filling stations in south Eastern Europe.

The report on Lukoil’s expansion to the West came out alongside the oil company’s announcement to supply around two million tons of petroleum to Iran in exchange for oil.