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Serbian NIS Buys Fuel Storage in Bulgaria to Aid Sales, Capacity

Oct. 12 (Bloomberg) -- Naftna Industrija Srbije AD, the Serbian oil and gas company controlled by OAO Gazprom Neft, bought a fuel storage site in neighboring Bulgaria as it seeks to boost sales and capacity.

The 25,500 cubic meter-facility in Kostinbrod, northwest of Bulgaria’s capital Sofia, will be used for storing, blending and distributing gasoline, diesel, biodiesel, ethanol and liquefied natural gas, the Novi Sad-based refiner said today in an e-mailed statement. The seller nor the price of the acquisition wasn’t disclosed.

The storage will be fully operational by the end of the month, the company said.

NIS plans “a significant increase” of storage capacity in Bulgaria over the next three years, as part of the development of its retail network in the region, the company said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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