Itera

ARETI International Group of Companies is a private energy company headquartered in Geneva, Switzerland. ARETI was created by Igor Makarov in 2015 following his sale of Itera International Group of Companies, which was started in 1992 and sold off in 2013. The ARETI group company consists of holding companies registered in Cyprus, Virgin Islands, and the Netherlands and has subsidiaries involved in the energy industry, civil and industrial engineering, and finance. The company operates primarily in Switzerland and the Commonwealth of Independent States (CIS) countries. In 2013, its main subsidiary, Itera Oil & Gas Company, was acquired by Rosneft prior to any sanctions placed on Rosneft. History A firm which later became a part of the Itera Group was established in 1992 as a basic commodities trading company. Established in 1992, the Itera International Energy Corporation headquarters in Jacksonville, Florida kept Makarov's wealth beyond the political and financial turmoil of Russia and the former Soviet states. In 1994, it obtained the rights to sell Turkmeni natural gas as payment for its sugar transaction and started implementing gas-related projects within its subsidiary Itera Oil & Gas Company, LLC. In 1995, Itera began selling Turkmeni gas to Ukraine, Belarus, Moldova, and Georgia, as well as to the Baltic States over Gazprom pipelines in exchange for hard cash, sugar, meat, and cereals to Russia. Registered in Wilmington, Delaware in May 1996, Itera International Energy LLS governed gas supplies and financial statements.