IGOR MAKAROV

Igor Viktorovich Makarov, President of ARETI International Group, was born in 1962 in Ashgabat, Turkmenistan.

In 1983, he graduated from Turkmen State University.

From 1979 to 1986, Igor Makarov was a world-class cyclist. He was a member of the USSR Olympic national cycling team and a winner of many national and international championships. He is a Master of Sport, International Class.

At the end of his sporting career in the late 1980′s, Igor Makarov began his business career by exercising his entrepreneurial initiative. He ran a number of successful businesses beginning with the founding of a small consumer goods manufacturing company. His early successes, due in large part to his initiative and keen business insight, led eventually to the development of an extremely successful major international energy company.

In 1992, he became the founder and the head of ITERA International Group of Companies (ITERA IGC). In 1994, the Group began to supply natural gas sourced from Turkmenistan to former USSR countries and to Eastern Europe. From 1998 to 2007, ITERA developed and operated nine gas fields in Northern and Eastern Siberia of Russia with annual production of about 80 billion cubic meters of natural gas.

By the early 2000′s, ITERA International Group of Companies included a diverse array of subsidiaries operating in various sectors of the economy in twenty-four countries around the world. Natural gas deliveries to former USSR countries and to Eastern Europe amounted to 100 billion cubic meters per year. Additionally, more than ten thousand kilometers of gas pipelines, oil pipelines, and compressor stations were built and operated under the ITERA umbrella of companies.

ARETI International Group has had partnerships with top global energy firms for 20 years.

ITERA′s incredible successes in the integrated energy space did not escape the attention of those knowledgeable about these industries. In 2003, Igor Makarov was nominated as the Manager of the Year in the ′Energy of Russia 2003′ National Prize Award for success in business. In March 2006, the Scientific and Technical Council of the St. Petersburg Mining Institute elected Igor Makarov to its Board of Trustees and awarded him the ′Golden Badge of Mining Engineer of Russia′ for successful oil and gas business activity and support of Russian education. Additionally, ITERA IGC won ′The Company of the Year′ National Prize Award (based on 2012 results), increasing the aggregate production at its own natural gas fields up to more than 500 billion cubic meters, while the quantity of distributed natural gas amounted to more than 600 billion cubic meters.

ITERA′s success during this time period resulted in one of the largest privately held oil and gas businesses in the world. Accordingly, the business became an extremely valuable and desirable asset in the oil and gas industry. In 2013, ITERA Group′s gas production subsidiary - ITERA Oil and Gas Company - was sold through an arm′s length transaction to state owned Rosneft Oil Company.

By mid-2015, Igor Makarov had reenergized his remaining companies and entered a new stage of development. The Group was rebranded as the ARETI International Group (ARETI IG) to signal this new direction.

Today, ARETI IG is composed of subsidiaries and affiliated companies with business interests in Russia, Switzerland, the CIS Countries and the Baltic States, United States, Canada, Western Europe and in the Middle East. Currently, ARETI is focused on investments in the oil and gas sector (including crude oil and other oil products, liquefied petroleum gas (LPG), and liquefied natural gas (LNG), engineering, power supply, real estate development, and food product manufacturing and delivery.

ARETI has offices and affiliated companies located in Switzerland (Geneva), Russia (Moscow), Cyprus (Limassol), Belarus (Minsk), Turkmenistan (Ashgabat), Canada (Calgary), the United States (Jacksonville). Currently, ARETI is active in expanding its presence in the Middle East, one of the largest developing markets in the world.

In addition to his international business successes, Igor Makarov is actively involved in the development of world cycling. From 2010 to 2016, he was President of the Russian Cycling Federation. In September 2011, he was elected a member of the Steering Committee of the International Cycling Union (UCI). Igor Makarov is the founder and the main sponsor of a professional cycling team named KATUSHA, registered in Switzerland, which has been in cycling′s top division and one of the leaders of the World Tour competitions since 2009.

For his significant contributions to the development of the economies of different countries of the world, Igor Makarov has been decorated with the highest awards of Russia, Belarus, Mongolia, Moldova, Turkmenistan, Kazakhstan, Georgia and other states.

His long-term activity as a patron and benefactor of various international charities and foundations and the sponsorship of social and environmental projects in the areas of business activity of "ARETI International Group" (until 2015 - "ITERA") were awarded with gold certificates and a gold medal "UNESCO", Order of the Russian Orthodox Church, as well as with the tributes and honorary signs of Red Cross.

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