Oil & Gas
Gazpromneft Aero Blockchain Enables Instant Refuelling Payment
Gazpromneft Aero, the aviation fuel operator of Gazprom Neft, has successfully completed tests of its Smart Fuel blockchain-based system for digital aviation
Gazpromneft Aero, the aviation fuel operator of Gazprom Neft, has successfully completed tests of its Smart Fuel blockchain-based system for digital aviation refuelling which allows instant payments. The platform, which cuts payment processing times from 4-5 days to 15 seconds, has already been used for more than 100 scheduled flights and Smartavia, VTB Bank and Raiffeisenbank have become partners in the project operating at Murmansk international Airport.
Refuelling requests, payment and the exchange of accounting documents are all carried out via applications installed on tablets held by pilots and refuelling operators. Blockchain technology guarantees transaction data is saved in the system and available to all the participants. Data from the Smart Fuel system is synchronized with an airline’s electronic flight bag and the digital aviation fuel accounting system of fuel trucks ensuring the refuelling and information exchange process is fully automated.
Gazpromneft-Aero is the aviation fuel operator of Gazprom Neft. The company has been active in the aviation fuel industry since January 1, 2008, providing aircraft and ‘into the wing’ fuelling services and has been a strategic partner of the International Air Transport Association (IATA) since December 2008.
Gazpromneft-Aero is the leader in the Russian aviation fuel market in terms of retail sales and uses technologies that ensure compliance with the highest status of the safety level of fuel operations: Green.
Airlines and fuel suppliers have to consider uncertainties such as dynamic pricing and unpredictable real fuel consumption leading to financial risks and additional labour costs. Gazpromneft-Aero has set itself the task of fully automating and increasing the transparency of payment for air refuelling using the Smart Fuel system.