Rosneft and Beijing to build a new petrol station network in Russia

A new joint venture was announced at the IV Eastern Economic Forum to build 160 stations in Russia.

Russian oil giant Rosneft and China’s Beijing Gas have agreed to create a joint venture to build 160 petrol stations in Russia.

"Rosneft and Beijing Gas Group Company Limited signed an agreement at the IV Eastern Economic Forum envisioning the principal conditions for setting up a joint enterprise to build and operate a net of (gas stations)," said Rosneft in a statement.

Beijing Gas Group Company Limited is part of the Beijing Enterprises Group Limited, which is one of the leading companies in the natural gas sector, gas infrastructure construction and energy production in Beijing region, reports Sputnik News.

The company manages more than 20 gas projects in China, is the owner of a marine terminal for the storage and transshipment of LPG in Guadao with a design capacity of 6 million tons per year.

The possibility of installing LNG dispensers at the new petrol stations was also discussed by both enterprises.