Rosneft has declared a purchase of 49% of David Yakobashvili's shares in Petrocas Energy Limited and plans to found a joint venture specializing in logistics and retail sales in the South Caucasus. The sum of the deal has not been announced.
Petrocas Energy Group offers services in transporting petroleum in the South Caucasus, from the Caspian Region to the Black Sea Region and vice versa. It has oil terminals in Georgia's Poti and Batumi, petroleum stations in Azerbaijan, Georgia, Armenia and Kazakhstan. The Poti terminal has a capacity of 8 million tons of oil products a year.
The purchase expands the business of Rosneft in the Trans-Caucasus, diversifies routes of oil exports, and boosts oil trade on the South Caucasus and Central Asian markets.
