MOSCOW, May 13. /TASS/. Russian oil major Lukoil is to rebrand the gas stations it buys from Shell within a year after the deal is closed, a source in Shell Russia told TASS.

"Lukoil will be rebranding Shell gas stations, which it is to acquire under the agreement, during the transition period in accordance with existing contractual obligations to third parties," he said. The source specified that the transition period will take up to 12 months.

On Thursday Lukoil announced that it will acquire Shell Neft, which owns over 400 Shell retail stations and lubricants blending plant in Russia.

The assets of Shell Neft include 411 retail stations, primarily located in the Central and Northwestern federal districts of Russia, and lubricants blending plant located in Tver region. Shell Neft is owned by Shell Overseas Investments BV and BV Dordtsche Petroleum Maatschappij. The sale will be completed after its approval by the Russian Federal Antimonopoly Service. Shell expects the sale to be completed later this year, according to the company.

On February 28, Shell reported withdrawal from all joint projects with Russia, including Nord Stream 2 and Sakhalin 2 on LNG production (27.5% of shares). On March 8 it reported the intention to start gradually abandoning Russian petroleum products, pipeline gas and LNG.

The company has stopped buying Russian crude oil on the spot market and has not extended long-term oil contracts with Russian suppliers.