MIDDLE EAST SURVEY

National oil companies in the Middle East guard their nations oil wealth closely, so there's limited room for independents in the energy sector. Helen Campbell seeks out the terminal operators who are looking for opportunities in this region.

With countries in the Middle East topping global energy producers' ranks, the region's role in the oil industry is undeniable.

However, national companies like Saudi Aramco, Kuwait Petroleum Corp and Qatar Petroleum guard their resource rich country's oil wealth - symbolic of national and economic security - so closely that there is limited room for independents and foreign 'outsiders' in the energy sector, particularly in the Gulf.

Storage operations are no exception. On the Mediterranean, in countries such as Lebanon, Syria and Israel, whose indigenous production profiles are much lower, independent terminal operators are more common and there are new opportunities on the horizon, particularly in Syria and Israel.

The Middle East terminal business is nevertheless dominated by national and local companies, with foreign joint ventures few and far between. Oiltanking, Vopak, Petroplus, BP Marine and Shell Chemicals are among the handful of foreign operators who have made some headway in the region's storage infrastructure, but not all have necessarily remained there.

Alongside massive crude exports, many of the nations around the Gulf and Red Sea are increasing their production and exports of refined products and chemicals, meaning growth in the need for storage and export facilities.