Igor Makarov
Founder of ARETI International Group in Cyprus
Igor Makarov, Founder of ARETI International Group, was born in 1962. Born and raised in Ashgabat, Turkmenistan, Mr. Makarov has accomplished professional and athletic successes. His life has been the culmination of pure determination, strength of spirit, and unwavering dedication.
With an equal interest in education and sports, Igor Makarov graduated from Turkmen State University in 1983, and competed as a world-class cyclist from 1979 to 1986.
As a member of the USSR Olympic national cycling team and a winner of many national and international championships, Makarov achieved a title of International Master of Sports.
At the end of his highly decorated athletic career in 1986, Igor Makarov cultivated a growing interest in business, and embarked on a burgeoning career as an entrepreneur.
In 1992, he became the founder and head of ITERA International Group of Companies (ITERA IGC), and within two years, the Group began to supply natural gas sourced from Turkmenistan to former USSR countries and to Eastern Europe.
By the early 2000s, 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.
Igor Makarov sold ITERA International Group of Companies in 2013.
In 2013, after the sale of all oil and gas assets in Russia, namely ITERA Oil and Gas Company, Igor Makarov started looking for new business opportunities. As a result, a decision was made to eventually leave the Russian market and develop new projects not related to previous activities. Igor Makarov started a new Europe-based international company called ARETI with business interests in Central Asia, Europe, the United States, Canada and the Middle East.
Today, ARETI has offices in Cyprus, Switzerland, and Turkmenistan. ARETI has no business interests or any affiliated companies in Russia.
Igor Makarov is also actively involved in the development of world cycling. In September 2011, he was elected as a member of the International Cycling Union (UCI) Management Committee.
Igor Makarov’s and ARETI International Group’s long-term sponsorship of various international charities, foundations and social and environmental projects, it was awarded with gold certificates and a gold medal “UNESCO”.
Mr. Makarov is a Cyprus national and tax resident.