OREANDA-NEWS. July 30, 2012. Gazpromneft Aero  has taken out third party liability and environmental damage insurance with SOGAZ Insurance Group  to cover all of the company’s global assets, with a maximum insurance payout of USD 500 million per insured event,.

Gazpromneft Aero is one of the first Russian aviation fuel companies to arrange global civil liability insurance. Taking out civil liability insurance, which allows companies to increase their reliability as a supplier, is common practice internationally.

 “Gazpromneft Aero is implementing a comprehensive transport, fire and environmental safety programme, with all of our refuelling facilities meeting international industrial safety standards. Voluntary third-party civil liability insurance is international industry best practice and this move by Gazpromneft Aero’s puts the company alongside the leaders of the international aviation fuel market.This agreement with SOGAZ allows us to develop new partnerships with international air carriers and put our expansion plans into action,” commented Vladimir Egorov, General Director of Gazpromneft Aero.

“Gazpromneft Aero’s international business is expanding rapidly and the company therefore needs appropriate insurance coverage. I am confident that this insurance agreement, which provides a high level of indemnity, will give foreign partners an additional reason to work with Gazpromneft Aero,” commented Sergey Maksimov, Oil & Gas Industry Insurance Director of SOGAZ Insurance Group.