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Latest storage news


Terminal News
September 19, 2017
The largest open access LPG import and storage facility in Africa has been launched in Saldanha Bay, Western Cape. The Sunrise Energy terminal will advance the development of the oil and gas sector in the region and the company will enable the import of LPG in large quantities, boost regional energy security and increase downstream competition...

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The largest open access LPG import and storage facility in Africa has been launched in Saldanha Bay, Western Cape.

The Sunrise Energy terminal will advance the development of the oil and gas sector in the region and the company will enable the import of LPG in large quantities, boost regional energy security and increase downstream competition.

The R1.02 billion facility is a private sector partnership between Mining, Oil and Gas Services and the Industrial Development Corporation.

The facility has a throughput capacity of 200,000 metric tonnes of LPG per annum.

Albertinah Kekana, MOGS executive chairperson, says: ‘Sunrise Energy is a world-class facility that will drive the availability of much needed LPG on an open access basis.’



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Terminal News
September 18, 2017
Rubis Terminal’s storage revenues grow
Rubis Terminal's segment has experienced an 11% storage revenues growth according to the company's first half financial results.Its storage activity reported growth of 35% as a result of the full integration of Rubis Terminal Petrol, in Turkey. However, activity measured as revenue incorporating 100% of the scope assets grew by 11%, representing flows across all products of 7...

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Rubis Terminal's segment has experienced an 11% storage revenues growth according to the company's first half financial results.

Its storage activity reported growth of 35% as a result of the full integration of Rubis Terminal Petrol, in Turkey. However, activity measured as revenue incorporating 100% of the scope assets grew by 11%, representing flows across all products of 7.3 million tonnes.

Each region (France, Northern Europe and Turkey) experienced growth, with Northern Europe up by 27%, reflecting the increase in capacity at the end of 2016. Turkey experienced strong growth in flows from and to northern Iraq, while France's growth was driven by oil revenues.

Across the board, the company experienced robust growth, reflected by an 8% increase in the overall sales volume at constant scope.



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Terminal News
September 18, 2017
Global energy use increases by 28% to 2040
World energy consumption is expected to increase by 28% by 2040, with natural gas being the fastest growing fossil fuel.According to the US Energy Information Administration International Energy Outlook 2017, most of the growth in energy demand will take place in countries outside of the OECD...

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World energy consumption is expected to increase by 28% by 2040, with natural gas being the fastest growing fossil fuel.

According to the US Energy Information Administration International Energy Outlook 2017, most of the growth in energy demand will take place in countries outside of the OECD. China and the other non-OECD Asia nations account for more than 60% of the projected increase in world energy demand.

The report projects renewables as the world's fastest-growing energy source – increasing by 2.3% per year through to 2040. However, fossil fuels still account for more than three quarters of world energy use.

Petroleum and other liquids remain the largest source of energy, however, the liquid fuels share of world marketed energy consumption falls from 33% in 2012 to 31% in 2040. As oil prices rise, energy consumers are expected to turn to more energy-efficient technologies and switch away from liquid fuels where possible.

Global natural gas consumption is expected to grow by 1.4% per year from 2015 to 2040.

Ian Mead, EIA's assistant administrator for energy analysis, says: 'Transportation energy use rises by nearly 30%, with almost all of the growth coming from non-OECD countries, as personal incomes rise and energy markets in many of these nations' rapidly growing economies become further integrated into global supply chains.'



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Terminal News
September 15, 2017
ArcLight & BP expand midstream collaboration
ArcLight Capital Partners has acquired a 30% interest in a refined products pipeline system.The company, through one of its affiliates, acquired the stake in the entity that owns the Olympic Pipeline from ARCO Midcon, an affiliate of BP Pipelines (North America)...

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ArcLight Capital Partners has acquired a 30% interest in a refined products pipeline system.

The company, through one of its affiliates, acquired the stake in the entity that owns the Olympic Pipeline from ARCO Midcon, an affiliate of BP Pipelines (North America).

The pipeline spans 400 miles across the states of Washington and Oregon. BP Pipelines (North America) will continue to operate the pipeline under a multi-year operating agreement.

This follows a joint venture between ArcLight and BP to enter into a joint venture across two large-scale refined product terminals that are interconnected to the pipeline.

In connection with the transaction, ArcLight has granted TransMontaigne Partners a right of first offer to purchase ArcLight's interest in the entity that owns the pipeline.



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Terminal News
September 15, 2017
The next phase of LBC Tank Terminals' project to improve jetty and land infrastructure in Rotterdam is due to be completed by mid-August 2018.Project Rainbow aims to triple the current capacity and significantly improve jetty and land infrastructure at its Botlek facility...

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The next phase of LBC Tank Terminals' project to improve jetty and land infrastructure in Rotterdam is due to be completed by mid-August 2018.

Project Rainbow aims to triple the current capacity and significantly improve jetty and land infrastructure at its Botlek facility. So far, the upper jetty structure has been delivered and installed and the hose tower has been installed on top of the structure.

The company plans to have the seagoing jetty operation at the beginning of November. Once this has been achieved it will then remove the old jetty to allow free access to the barge jetty.

The next phase will add another seagoing and barge jetty, which, once complete, will double its current jetty capacity.

The company says in an update: 'With the completion of this project our storage capacity will have tripled and not only will we have added seagoing and state-of-the-art barge jetties to our terminal, but these jetties will reduce waiting times at our quay to an absolute minimum such that we can safely serve our customers while maintaining optimum operational excellence standards.



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Terminal News
September 14, 2017
Magellan & Valero form JV for marine storage terminal
Magellan Midstream Partners and Valero Energy are jointly expanding a Houston marine storage facility currently under construction.The facility, along the Houston Ship Channel in Texas, will be owned by a limited liability company that is owned 50/50 by Magellan and Valero...

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Magellan Midstream Partners and Valero Energy are jointly expanding a Houston marine storage facility currently under construction.

The facility, along the Houston Ship Channel in Texas, will be owned by a limited liability company that is owned 50/50 by Magellan and Valero. It will initially include five million barrels of storage, truck loading facilities and two proprietary ship docks.

The first phase of the facility, comprising one million barrels of storage and a new marine dock, is currently being built.

It will now be expanded by an incremental four million barrels of storage, a three-bay tuck rack and a second marine dock capable of handling Aframax-sized vessels with up to a 45-foot draft. Once this expansion phase is complete, the Pasadena facility will be connected via pipeline to Valero's refineries in Houston and Texas City and the Colonial and Explorer pipelines, in addition to the already planned connection to Magellan's Galena Park terminal facility.

Both phases of the facility are estimated to cost $820 million and both are fully contracted with long-term customer commitments. The terminal will handle petroleum products, including multiple grades of petrol, diesel and jet fuel as well as renewable fuels.

The first phase is expected to be operational in early 2019, and phase two is expected to come on-line in early 2020.

Michael Mears, chairman, president and CEO of Magellan, says: 'Demand for refined products from the Gulf Coast continues to grow, and together, we are well-positioned to continue expanding our marine capabilities to meet this demand from both domestic and international markets.'

Additionally, if warranted by additional demand, the new facility could be expanded to include an incremental five million barrels of storage, another three docks and expanded truck loading capacity.



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Terminal News
September 14, 2017
Fujairah: Oil product stocks down 4.2% on week
Fujairah's commercial stocks of refined oil products fell 4.2% to 18.983 million barrels in the week to Monday (September 11), remaining below 20 million barrels for a third week since large-scale refinery shutdowns in Texas related to Hurricane Harvey sent shock waves through global oil products markets...

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Fujairah's commercial stocks of refined oil products fell 4.2% to 18.983 million barrels in the week to Monday (September 11), remaining below 20 million barrels for a third week since large-scale refinery shutdowns in Texas related to Hurricane Harvey sent shock waves through global oil products markets.

Light and middle distillate stocks fell a combined 760,000 barrels, or 8.4%, to their lowest levels in around three months, while heavy distillates and residues, which account for more than half the total oil product stocks at the UAE port were almost flat, as they have been since mid-August, data released Wednesday (September 13) by the Fujairah Energy Data Committee showed.

Stocks of light distillates, predominantly petrol and naphtha, fell 378,000 barrels, or 6.7%, to 5.302 million barrels - a 12-week low. That was despite the receding impact of Hurricane Harvey, the aftermath of which resulted early this month in a strong draw of European petrol across the Atlantic to meet short US shortfalls, consequently also pulling Middle East petrol stocks west of Suez in the week ended September 4.

In the meantime, Fujairah's total light distillate stocks are also responding to price movements in Asian petrochemicals markets, which has meant a poor correlation in the past two weeks between their overall level and those of European petrol stocks. The premium of LPG - a propane-heavy mix of gas liquids used for cooking, heating and as petrochemical feedstock - is expected to last for the remainder of this year on winter heating demand.

ARBITRAGE WINDOW REOPENS

Fujairah stocks of middle distillates fell a substantial 11.2% on the week - a 382,000 barrel draw to a 14-week low of 3.02 million barrels. In Europe, gasoil stocks were at relatively low levels due to autumn refinery maintenance in the region coupled with continued shortages of US supplies due to hurricane-related refinery and port disruptions. This has finally resulted in more Middle East gasoil cargoes moving to Europe in response to European prices reaching levels sufficient to overcome the deterrent of high freight rates.

LITTLE MOVEMENT IN HEAVY STOCKS

Fujairah's stocks of heavy distillates and residues dipped by 73,000 barrels in the week ending September 11, edging down by 0.7% to 10.661 million barrels - a fourth consecutive week below 11 million barrels. Demand for bunkers in both Fujairah and Singapore has been healthy over the past week. Prices for Fujairah 380 CST delivered bunker fuel, however, slipped further relative to Singapore, with discounts widening to about $5.5/mt from $3.75/mt the previous week.



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Terminal News
September 13, 2017
Duqm Authority inks deal for liquid bulk berth
The Special Economic Zone Authority in Duqm has signed an agreement with Boskalis Westminster for the construction of the liquid bulk berth project at Duqm Port.The OMR 199.1 million agreement stipulates that Boskalis will carry out detailed engineering designs, construction of marine infrastructure and dredging and reclamation works, while Worley Parsons Engineering will oversee the engineering and construction works of the project...

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The Special Economic Zone Authority in Duqm has signed an agreement with Boskalis Westminster for the construction of the liquid bulk berth project at Duqm Port.

The OMR 199.1 million agreement stipulates that Boskalis will carry out detailed engineering designs, construction of marine infrastructure and dredging and reclamation works, while Worley Parsons Engineering will oversee the engineering and construction works of the project.

Works will include the excavation of 26 million m3 of material for the deepening of the basin and track channel at the port, which leads to the liquid dock to reach 18 meters.

Additionally, a secondary wave breakwater will be developed, along with a 1 kilometre quay wall.

Once the berth is complete, oil tanks for bulk materials and warehouses will be built by Duqm Refinery on the reclaimed land, to export refined products from Duqm Refinery and petrochemical industries area.

The berth will be able to handle naphtha, jet fuel, diesel, high sulfur fuel oil, LPG, coke and sulfur.



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Terminal News
September 13, 2017
VTTI Energy Partners' unitholders have agreed plans to merge with VTTI.Once complete, VTTI will become an indirect, wholly owned subsidiary of VTTI. 98.75% of VTTI Energy Partners' common units and 100% of its subordinated units voted at the special meeting in favour of the adoption and approval of the merger agreement and the subsequent transactions...

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VTTI Energy Partners' unitholders have agreed plans to merge with VTTI.

Once complete, VTTI will become an indirect, wholly owned subsidiary of VTTI. 98.75% of VTTI Energy Partners' common units and 100% of its subordinated units voted at the special meeting in favour of the adoption and approval of the merger agreement and the subsequent transactions.

The merger is expected to close on September 15.



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Terminal News
September 13, 2017
Manga LNG terminal project progresses
Manga LNG Oy's LNG terminal project is progressing on schedule following a ceremony to lay the base stone.Construction of the facility, located in the port of Röyttäs, will continue through autumn, after earth moving works were completed during the summer ready for the foundation of the terminal...

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Manga LNG Oy's LNG terminal project is progressing on schedule following a ceremony to lay the base stone.

Construction of the facility, located in the port of Röyttäs, will continue through autumn, after earth moving works were completed during the summer ready for the foundation of the terminal.

It is hoped that the roof structure of the tank will be installed before the winter.

The €100 million terminal, which is due to be completed in early 2018, comprises reception, discharging and filling stations for LNG ships, a 50,000 m3 tank as well as a pipeline and a car terminal for LNG tankers.

The import terminal is a joint venture between Outopumpu Oyi, SSAB Oy, Skangas and EPV Energia Oy.



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Terminal News
September 12, 2017
Gibson to expand Hardisty Terminal storage capacity
Gibson Energy will build 1.1 million barrels of additional storage capacity at its Hardisty Terminal.The company says the two 300,000 barrel tanks and one 500,000 barrel tank are due to be placed into service in the third quarter of 2019. The two 300,000 barrel tanks are supported by a long-term, fixed fee contract with a senior, investment grade, oil sands customer...

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Gibson Energy will build 1.1 million barrels of additional storage capacity at its Hardisty Terminal.

The company says the two 300,000 barrel tanks and one 500,000 barrel tank are due to be placed into service in the third quarter of 2019. The two 300,000 barrel tanks are supported by a long-term, fixed fee contract with a senior, investment grade, oil sands customer.

This expansion will swell overall capacity at the terminal to 10 million barrels.

The 500,000 barrel tank will service operational needs, the company says, replacing the tank that was earmarked for that purpose in the last expansion phase, which ended up being contracted to a customer under a long-term contract.

Steve Spaulding, president and CEO of Gibson, says: 'Our Hardisty Terminal continues to demonstrate its commercial competitiveness and this contract affirms the on-going demand for our strategic storage infrastructure in support of incremental oil sands brownfield development.

'We will continue to focus on the build-out of the undeveloped acreage at both our Hardisty and Edmonton terminals, and the growth of the proportion of our cash flow stream attributable to the infrastructure segment, as our number one strategic priority.'



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Terminal News
September 11, 2017
Hurricane Harvey increased petroleum prices & disrupted supply chains
Hurricane Harvey significantly disrupted crude oil and petroleum product supply chains and increased petrol and petroleum product prices.Analysis by the Energy Information Administration (EIA) highlights that for the week ending September 1, 2017, gross inputs to refineries in the Gulf Coast fell by 3...

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Hurricane Harvey significantly disrupted crude oil and petroleum product supply chains and increased petrol and petroleum product prices.

Analysis by the Energy Information Administration (EIA) highlights that for the week ending September 1, 2017, gross inputs to refineries in the Gulf Coast fell by 3.2 million barrels per day from the previous week. This is the largest drop since Hurricanes Gustav and Ike in 2008.

Refinery utilisation fell to 63%.

Just over half of all US refinery capacity is located in the Gulf Coast, supply petroleum products to the Gulf Coast, East Coast and Midwest as well as to international markets.

Additionally, 49% of total US working crude oil storage capacity and more than 40% of working storage capacity for both motor petrol and diesel fuel were located in the Gulf Coast region, as of March 2017.

As a result of disrupted supplies, the East Coast drew down inventories of motor petrol. Almost all of this drawdown occurred in the Lower Atlantic region, which stretches from Virginia to Florida.

Disruptions caused by the hurricane also led to higher petrol prices. The US average regular retail petrol price increased 28 cents per gallon.



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Terminal News
September 8, 2017
TransCanada seeks application suspension for pipeline projects
TransCanada is seeking to suspended applications for its Energy East Pipeline and Eastern Mainline Project amid significant changes to the regulatory process.The company has filed a letter with the National Energy Board (NEB) seeking a 30-day suspension to allow it time to review changes announced by the NED regarding the list of issues and environmental assessment factors of the project...

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TransCanada is seeking to suspended applications for its Energy East Pipeline and Eastern Mainline Project amid significant changes to the regulatory process.

The company has filed a letter with the National Energy Board (NEB) seeking a 30-day suspension to allow it time to review changes announced by the NED regarding the list of issues and environmental assessment factors of the project. It says it needs to 'understand how these changes impact the projects' costs, schedules and viability'.

It says in a statement: 'Should TransCanada decide not to proceed with the projects after a thorough review of the impact of the NED's amendments, the carrying value of its investment in the projects as well as its ability to recover development costs incurred to date would be negatively impacted.'

Russ Girling, TransCanada's president and CEO, says: 'Apart from Energy East, we will continue to advance our $24 billion near-term capital program in addition to our longer-term opportunities.'



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Terminal News
September 7, 2017
Magellan to expand Texas pipeline & storage assets
Magellan Midstream Partners will expand its refined petroleum products pipeline in Texas to meet growing demand for product transportation.The company plans to spend $375 million on the project, which involves the construction of a 135-mile, 16-inch pipeline from its terminal in East Houston to Hearne, Texas...

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Magellan Midstream Partners will expand its refined petroleum products pipeline in Texas to meet growing demand for product transportation.

The company plans to spend $375 million on the project, which involves the construction of a 135-mile, 16-inch pipeline from its terminal in East Houston to Hearne, Texas.

It is due to be completed mid-2019.

Magellan will own the pipelines via an undivided joint interest agreement with Valero Energy. Magellan's ownership interest in this new pipe will provide the ability to deliver additional product north to Temple, Waco and Dallas as well as Magellan's Midcontinent markets.

The company also plans to reverse an existing pipeline which will connect to the new pipeline segment, providing an incremental 85,000 barrels per day of refined product from the Houston area.

Additionally, Magellan will make a number of enhancements to its existing pipeline and terminal infrastructure, including construction of one million barrels of refined products storage on a combined basis at its facilities in Dallas, East Houston and Hearne. It will also construct additional connections to third-party refineries, pipelines and terminals within the Houston Gulf Coast region, including its new Pasadena, Texas terminal.

Michael Mears, CEO, says: 'Demand for refined petroleum products remains strong along Magellan's extensive pipeline system. Magellan is pleased to meet the industry's need for pipeline capacity serving the Dallas market and other important demand centres along our refined products pipelines system with an attractive investment supported by long-term commitments from well-known, strong creditworthy customers.'



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Terminal News
September 7, 2017
Sri Lankan LNG storage terminal given green light
Petronet LNG will form a joint venture to construct an LNG terminal to support power plants and transport sectors in Sri Lanka.The company will form a joint venture with Japanese and Sri Lankan companies following discussions between Sri Lanka's minister of petroleum resources development and India's minister of petroleum and natural gas last year...

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Petronet LNG will form a joint venture to construct an LNG terminal to support power plants and transport sectors in Sri Lanka.

The company will form a joint venture with Japanese and Sri Lankan companies following discussions between Sri Lanka's minister of petroleum resources development and India's minister of petroleum and natural gas last year.

The JV will develop the terminal to provide regassified natural gas to power plants, domestic and transport services in Sri Lanka. The capacity of the terminal, near Colombo, will be decided on the gas demand in Sri Lanka and is expected to be developed in two years.

The facility will be situated close to where most of the power projects are located.

In a statement, Petronet says: 'The LNG terminal would improve economics of various power plants and also generate immense direct and indirect benefits for the vast majority of Sri Lankan people.

'LNG imports is a significant solution to fuel the growth of this nation. It is a giant step towards the energy security of Sri Lanka.'



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