Zenith Energy has acquired a liquids storage terminal facility in Hamburg, Germany from Shell.
The facility, located on 55 hectares of land in the Port of Hamburg, serves as a refined product import and blending terminal in North Germany. It has an expected storage capacity of over 480,000 m3 for petrol, diesel and jet fuel. It also has inbound and outbound ocean vessel, barge, rail and truck and pipeline connectivity.
Following the transfer of ownership, Shell will remain a significant customer of the terminal.
The transaction is expected to close in the first half of 2018.
Jeffrey Armstrong, CEO of Zenith, says: 'This is a natural progression in our growth strategy and underscores our commitment to expand into key European markets. We are excited to be working with Shell.'
This acquisition represents Zenith's third terminal in Europe, with its other assets in Ireland and Amsterdam.
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