The FINANCIAL -- Gulf Georgia has started issuing a premium segment fuel - G-Force, which decreases friction and cleans engine deposits. The new product is believed to be increasing the market share of the company.
Gulf Georgia plans to invest an additional USD 5 million before the end of 2014. Developing shop chains and CNG gas dispensers are the top priorities of the company.
“During my work for world-leading oil companies I amassed huge experience in premium product fuel. This has helped me to understand the needs of Georgian drivers. Of course we conducted research as well. This was done in December 2013. The prime reasons for the majority of motorists choosing one company over another to buy fuel from, is the quality of the product. I can understand that. Especially for a market like Georgia and this region, quality is very important. A car itself is one of the biggest investments that consumers tend to make and they value their cars highly. Therefore it is very important for them to use the kind of fuel which does not damage their car and also provides better performance. Accordingly, it was naturally understandable that this emerged as the most important thing. Then we started working on it, in the sense that we want to be a leader in the petroleum product market in Georgia. Since we are a petroleum company and since this is the most important thing for Georgian drivers, we had to address it properly. Hence, we developed this formulation. It took some time. We were not the first to launch so-called premium fuels here, but ours is certainly the best out of those that are available in Georgia,” Hristo Ivanchev, Chief Commercial Officer of Gulf Georgia, told The FINANCIAL.
“G-Force gives you greater and improved power than usual. You feel the difference extremely quickly, from the very first time you fill your tank up with it. It keeps your engine in a better condition because it cleans all the deposits. It reduces the friction in the metal part of the engine. These are important things. So, if you care about your car, would like better performance and to be able to feel a difference, then I would recommend this product. I have no doubt that it will be successful. From my own experience I know exactly what this product achieves,” Ivanchev explained.
“We want to make sure that we respond to the needs of Georgian motorists for a better quality product. We expect to gain new customers and increase our market share in the premium segment. It is difficult to name the exact share but we are planning to be leaders in the premium fuel segment,” Ivanchev added.
G-Force is already available at every filling station of Gulf Georgia. The price per litre for G-Force Premium is GEL 2.27, and for G-Force Euro Regular - GEL 2.18.
During the current year Gulf Georgia has already invested USD 5 million. An additional USD 5 million will be invested before the end of the current year. “Developing shops, as well as G-Force marketing, will be our main priorities. We do not require any further large investments, asides from the ones we have already made. The CNG gas dispensers at our existing stations will also be priorities in terms of what we will be investing in.”
Gulf Georgia has 21 branches. Their number is set to reach 40 before the end of 2014.
“Gulf operates in over 15 countries in the retail segment. In terms of its share on the lubricants market, it operates in more than 100 countries all over the world. The brand is well recognized in the industry. It is originally an American brand. We are quite important for the Gulf group,” said Ivanchev.