Zenith Energy today announced that it has signed an agreement to acquire a liquids storage terminal facility in Amsterdam from BP plc. Zenith expects to take ownership of the terminal by the end of Q1 2016, following a transition process. Terms of the transaction were not disclosed.
The terminal assets are strategically located on the North Sea Canal in the Amsterdam, Rotterdam and Antwerp (ARA) region, which represents the largest concentration of refining capacity in Europe and one of the largest refined product trading hubs in the world. The facility has storage capacity of more than six million barrels for gasoline, ethanol, middle distillates, biodiesel, kerosene and LPG with capabilities for sophisticated blending; connectivity for ocean vessels, inland waterways and trucks; deep draft to service oceangoing tankers up to 135,000 tons with multiple berths for barges and ships. The facility has the leading truck loading facility in Amsterdam and significant room for expansion projects. It is also an approved delivery point for ICE gasoil futures contracts. BP will remain a significant customer of the terminal after transferring ownership to Zenith.
This statement underlines the will by Zenith in pursuing opportunities to buy, build and operate petroleum liquids and petrochemical terminals and related logistics including distribution assets that support terminals, such as pipelines, truck racks and barges, primarily in Latin America, the Caribbean, Europe and Africa.
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