Latest storage news
Shell Gas has completed the acquisition of a 26% equity interest in the Hazira LNG and port venture from Total Gaz Electricité.
The move brings Shell's equity interest in the venture in India to 100%.
The transaction allows Shell to build an integrated gas value chain: supply from its global LNG portfolio, regasification at the Hazira facility, and downstream customer sales. It further enables Shell to contribute towards India's long-term need for more and cleaner energy solutions.
Ajay Shah, vice president Shell Energy Asia, says: 'Shell invested in the Hazira project 15 years again and it was the single largest foreign direct investment for Indian in the energy sector at the time. I am very proud that as a 100% shareholder, we will now be able to utilise this great infrastructure asset to its full potential and help provide much needed gas to serve the growing energy needs of India.
Having commercial and operational flexibility over Hazira will further enable Shell to offer better customer value propositions and help the company build a pan-India gas business.
BP and SOCAR Turkey have signed a heads of agreement to evaluate the creation of a joint venture for the construction and operation of a world-scale petrochemicals complex in Turkey.
The proposed facility, in Aliaga in western Turkey, would produce 1.25 million tonnes per annum of PTA, 840,000 tpa paraxylene and 340,000 tpa benzene.
Both companies now expect to undertake design work for the facility, which would allow for the integration of feedstock supplies from the nearby new STAR refinery and Petkim petrochemicals complex, both owned by SOCAR Turkey.
Luis Sierra, CEO for BP's global aromatics unit, says: 'If taken forward, this would be the largest integrated PTA, PX and aromatics complex in the Western Hemisphere and BP's first major new aromatics platform since our Zhuhai site in China opened nearly 20 years ago.'
Vagif Aliyev, Chairman of the Board of SOCAR Turkey, adds: 'We entered the Turkish market in 2008 with the acquisition of Petkim and since then have realised giant projects such as the STAR refinery. The area covering all of SOCAR Turkey's projects in Aliaga has recently become the first Private Industrial Zone in Turkey.
'The immediate proximity to the feedstock and infrastructure provided by SOCAR's other facilities will contribute significantly to the competitive power of the new facility. Expanding our immense refining and petrochemical complex, built at the gateway to world markets on the Aegean coast of Turkey, we aim to continue to contribute to the economies of the two brother countries – Turkey and Azerbaijan.'
Both companies expect to work towards a potential final investment decision in 2019, which could result in start-up of the new plant in 2023.
CLH Panamá has started operations at the Marcos A. Gelabert International Airport, which also include managing the into-plane fuel supply.
The airport, which is one of major airports in Panama in terms of domestic flights and private navigation, is located a few kilometres away from the western area of the capital city.
CLH will be responsible for managing the fuel storage facility and for into-plane services at the Marcos A. Gelabert airport, for which purpose it will incorporate a total of six vehicles in forthcoming weeks in order to provide a better quality service.
Sempra Energy has entered an agreement to sell its non-utility US natural gas storage facilities to ArcLight Capital Partners for $332 million.
The assets included in the sale to ArcLight are the Mississippi Hub storage facility in Simpson County, Mississippi, with a working capacity of 22.3 billion cubic feet of natural gas, and the Bay Gas storage facility in southwest Alabama, which comprises five underground caverns with a working capacity of 20.4 Bcf of natural gas.
These assets will become part of the Enstor natural gas storage platform that ArcLight acquired in 2018.
Joseph A. Householder, president and COO of Sempra Energy, says: 'Our agreement to sell our non-utility natural gas storage assets is an important component to achieving our portfolio-optimisation goals we announced in June 2018.
'Completing this sale, along with the recently announced sale of our non-utility US solar assets, enables us to reallocate capital to further strengthen our balance sheet and support Sempra Energy's future growth opportunities.'
Sempra Energy's subsidiary currently owns 91% of Bay Gas storage facility. Immediately prior to the sale, Sempra Energy's subsidiary will purchase the 9% interest from a minority owner and include it in the sale to ArcLight.
The sale is expected to be completed in the first quarter 2019.
The foundation stone of the Paradip-Hyderabad Pipeline project has been laid to mark the start of construction works on the 1,212km pipeline.
The pipeline will run from Paradip to Hyderabad and will supply petroleum products such as petrol, high speed diesel, aviation turbine fuel and superior kerosene oil from Indian Oil's Paradip refinery. It is due to be complete by August 2020.
The pipeline will have a capacity of 4.5 million metric tonnes per annum and will feed the upcoming petroleum product depot at Berhampur in Odisha, existing depots at Vizag and Vijayawada in Andhra Pradesh, an upcoming depot at Achutapuram, as well as Andhra Pradesh, and an upcoming depot at Hyderabad in Telangana.
To complete the project on schedule, steps have been taken to carry out construction activities in all the three states concurrently.
Once complete, delivery of petroleum products to key consumption centres in the region will be achieved in a safer, more reliable, environmentally-friendly and cost-effective manner. It will also reduce road traffic as currently petroleum products are largely transported this way.
Polski LNG has launched the tender process to select a contractor for three key projects within the President Lech Kaczyński LNG terminal expansion programme.
These components include the construction of the third LNG process storage tank, delivery of additional process installations increasing the regasification capacity, and the LNG transhipment installation together with a railway siding.
The project will not only increase Poland's energy security, but also allows Polskie LNG to offer new services to domestic and foreign customers alike.
The third tank will increase the operational flexibility of the LNG terminal installation and ensures the optimum natural gas process storage capacity.
The tender process includes the bidders prequalification stage, negotiations with short-listed bidders and signing the contract with the selected contractor by the end of the year.
Reaching the target capacity of 7.5 billion Nm3/year is planned in 2021. The other two projects are scheduled for completion in the second quarter of 2023. The LNG terminal expansion programme is to be implemented under the design and build formula.
Paweł Jakubowski, CEO of Polskie LNG, says: 'The President Lech Kaczyński's LNG terminal in Świnoujście is a pivotal investment project for Poland and it is devised to shape the LNG market not only in our country, but also in the entire region.
'The terminal expansion programme is the next step that will strengthen our market position. The demand for natural gas in Central and Eastern Europe and in the Baltic Sea region is constantly growing.
'New functions of the plant will allow us to respond to that demand and more importantly - we will be the first facility to offer such a broad range of services.'
Global Petro Storage has signed an agreement with turnkey service provider & EPC company SSB Cryogenic Services to expand and develop small-scale LNG supply chain solutions in Southeast Asia.
With a global push for cleaner energy sources together with the IMO 2020 sulphur fuel cap announcement, both companies recognise the potential and opportunities in LNG bunkering, intermediate storage and break bulking activities, as well as the increasing need for LNG supply chain solutions.
The collaboration aims to promote transportation, distribution and storage of small-scale LNG to locations with limited access to energy sources due to inadequate distribution infrastructures and poor interconnectivity of gas pipelines.
Smaller scale supply solutions, via small-scale LNG membrane vessels, satellite hubs and ISO tanks make it inherently suited to locations where the demand for energy sources is not adequately serviced.
Peh Lam Hoh, managing director of SSB Cryogenic Services, says: 'As part of the collaboration, SSB will identify and introduce project opportunities to GPS. GPS, with an extensive knowledge in the energy industry and specialising in project investment and asset management, will own and operate the assets and infrastructures.
'From LNG liquefaction, bunkering, intermediate storage and break-bulking solutions, to project financing support and investment of LNG-related opportunities as well as the execution in the LNG last mile solutions will provide a platform to enhance our capabilities and value proposition.'
GPS CEO Eric Arnold adds: 'GPS believes that gas is the fuel of the future and thus is focused on developing optimal onshore and/or offshore infrastructure needed to allow suppliers to access the respective demand centres.'
As of Monday, December 31 total oil product stocks in Fujairah stood at 17.348 million barrels – down by 1.9% week on week.
Stocks of light distillates fell by 2.1% week on week to 9.669 million barrels. Stocks saw little change from recent levels, averaging 9.72 million barrels through the month of December. Light stocks have been persistently high during 4Q 2018 amid a weak market and contango structure for gasoline and other light distillates.
Stocks of middle distillates fell by 9.5% week on week to 1.463 million barrels. Inventories fell to their lowest since January 1, 2018, which may be down to some traders looking to clear volumes by year-end. While the East of Suez gasoil market was still weak from oversupply woes, sentiment was a touch improved as compared to earlier in December. 'Arab Gulf swing barrels are still going towards Europe and East Africa, and since none of those barrels, or those from India, are heading to Asia for December, this will give us some time to digest the overhang in volumes,' a market participant said last week.
Stocks of heavy residues edged up by 0.4% week on week to 6.216 million barrels. Bunker activity has been quiet in recent days as market participants had mostly covered their requirements prior to the year-end holiday period.
Shell has completed the sale of its shares in its entities in New Zealand, including the Māui, Pohokura and tank farm assets, to OMV for $578 million.
The sale also includes Shell's interest in (and operatorship of) the Great South Basin venture, which was subject to a separate agreement.
The company says the sale is consistent with its global drive to simplify the upstream portfolio and re-shape the company into a world class investment.
Zoe Yujnovich, EVP, Australia and New Zealand, says: 'We are proud of having worked in New Zealand for more than 100 years and completion of the sale to OMV marks an important milestone in the company's history.'
Buckeye Partners has completed the sale of a package of domestic pipeline and storage terminal assets to a subsidiary of InstarAGF Asset Management for $450 million.
The assets include: a jet fuel pipeline from Port Everglades, Florida to the Ft. Lauderdale and Miami, Florida airports; pipelines and terminal facilities serving the Reno, Nevada; San Diego, California and Memphis, Tennessee airports; and refined petroleum products terminals in Sacramento and Stockton, California.
Buckeye Development & Logistics, a subsidiary of Buckeye, will continue to operate and maintain these assets for the buyer under a long-term contract.
Puma Energy has commenced operations at its new bitumen storage terminal at Kwinana, Western Australia.
The new state-of-the-art facility has the capability to deliver multiple grades of bitumen to the Western Australian roading industry.
The facility comprises a joint venture import facility with three 6.3 kt storage tanks and a main import wharf line from Kwinana bulk jetty. Additionally, Puma Bitumen operates four day tanks, which draw off the storage tanks and then, in turn, deliver product to the load-out gantry.
The automated two-bay gantry allows drivers to self-load 24/7.
Stuart Dack, bitumen market and technology at Puma Energy, says that for many years the supply of bitumen has been through the local BP refinery, which operated since 1955. However, following BP's decision to cease refinery production of bitumen in 2016, the need for a reliable, alternative supply arrangement was paramount.
Dack says: 'This new facility further demonstrates our ongoing commitment to provide secure supply of high-quality bitumen across Australia.'
Kinder Morgan has secured long-term committed volumes of 20,000 barrels per day on its Roanoke expansion projects on the Plantation Pipeline System following a successful open season.
The Plantation Pipe Line Company's investment in the project is $49 million. In addition, Kinder Morgan Southeast Terminal's investment, fully backed by 10,000 barrels per day of long-term committed volumes is $9 million.
With the successful open season, Plantation Pipe Line will submit the petition for declaratory order to the Federal Energy Regulatory Commission for approval of commercial terms for the project. Pending all regulatory approvals, the project is expected to be in full service by April 1, 2020.
James Holland, president, Kinder Morgan Products Pipelines, says: 'We are pleased with the successful Plantation Pipe Line open season and the opportunity to invest expansion capital to serve the Roanoke area's needs with reliable transportation and storage services in projects that meet our investment criteria.'
The expansion will provide 21,000 barrels per day of incremental refined petroleum products capacity on the Plantation from the Baton Rouge, Louisiana and Collins, Mississippi, origin points to the Roanoke, Virginia area. The expansion will primarily consist of additional pump capacity and operational storage on the Plantation system.
The Kinder Morgan Southeast Terminal expansion will provide 10,000 barrel per day of incremental refined product throughput capacity at the terminals.
Phillips 66 has increased its spending on its midstream business, including pipelines and terminals to $1.6 billion.
The budget includes $601 million for Phillips 66 Partners and reflects expected joint venture-level financing to fund a portion of the Gray Oak Pipeline construction.
Midstream growth capital at the company includes 300,000 barrels per day of additional fractionation at the Sweeny Hub, as well as ongoing expansion of the Beaumont Terminal and pipeline investments providing integration across its value chain.
Growth capital at Phillips 66 Partners supports organic projects, including the Gray Oak Pipeline, South Texas Gateway Terminal, Clemens Caverns expansion, an isomerisation unit at the Phillips 66 Lake Charles Refinery and the Lake Charles products pipeline.
Greg Garland, chairman and CEO, says: 'The 2019 capital programme reflects our strong portfolio of growth projects aligned with our long-term strategy. We are building out our integrated midstream infrastructure network, including pipelines, export facilities, and fractionation in support of growing hydrocarbon production in the key domestic shale plays. CPChem is also pursuing petrochemicals expansion opportunities on the US Gulf Coast.'
Newly formed midstream company Cavalcade Midstream has secured a $150 million partnership with Peal Energy Investments, Old Ironsides Energy and NGP.
Led by three founding partners, Rich Reynolds, Hunter Thunell and Ross Dillion, all of whom previously worked together at NuStar Energy, Cavalcade is focused on providing tailored midstream solutions through greenfield development and strategic M&A, initially in the Permian Basin.
CEO Reynolds says: 'We are honoured to partner with Pearl, Old Ironsides and NGP, three pre-eminent investment firms in the energy business. The Cavalcade team has a long and successful history working together and we are confident that our experience, coupled with our strong financial sponsors, will enable us to create value, providing creative, flexible, and reliable midstream solutions for our customers.'
'We welcome Cavalcade's creative and innovative approach to the midstream business and look forward to supporting this highly talented team as they execute their strategy,' adds Sean O'Neill, co-founder and managing partner of Old Ironsides.
StocExpo Europe, the world's leading international event for the tank terminal industry, will be celebrating its 15th anniversary when it returns to the Ahoy in Rotterdam on March 26-28, 2019.
The event is set to be bigger and stronger than ever with the return of several popular initiatives, including the Innovation Theatre, its CPD-certified conference as well as key terminals such as Stolthaven Terminals, Inter Terminals and Oiltanking among the list of over 200 exhibitors.
The three-day exhibition and conference is renowned for attracting the largest global representation of industry professionals due to its strategic positioning within the ARA region. Thousands of professionals, experts and analysts from leading oil majors, terminals and key storage players from over 70 countries worldwide will attend to maximise business opportunities, networking and knowledge sharing opportunities.
Many exhibitors, including Endress+Hauser, Emerson, CEA Systems, J de Jonge, Matrix Applied Technologies, Verwater and CTS Group, will be using StocExpo Europe 2019 as the place to showcase their latest innovations, launch new technologies and products, or to make major announcements to a captive international audience. To help bring exhibitors and visitors together, the organisers are also running a special hosted buyer programme through which key industry players will be brought to StocExpo Europe.
For the very first time, the highly-anticipated CPD-certified conference programme will be hosted on the show floor, allowing even greater access to in-depth sessions and debates delivered by over 30 industry speakers. CEOs, terminal managers and analysts from companies such as Shell, Alpha Terminals, Vesta Terminals Antwerp and Flushing and Port of Rotterdam are already lined up to speak at the conference.
Mark Rimmer, StocExpo & Tank Storage Portfolio divisional director, says: 'StocExpo is the biggest international event for the tank terminal industry; a place where the most innovative minds can come together to discuss this highly dynamic market. Over the last two years, Europe's share of global energy demand has continued to rise. This is pushing developments in new technology, materials and automation equipment and we expect all that innovation to be on the show floor.'
The Innovation Theatre, which is also on the show floor, provides free content to all visitors. Led by industry associations and specialist innovation platforms, EEMUA, iTanks and VDMA, visitors can take part in round table sessions and presentations to develop best practice, keep abreast of industry standards and regulations to ensure a competent workforce within their businesses.
Along with daily exhibitor networking events and seminars, attendees can register to attend the prestigious Global Tank Storage Awards. Designed to highlight those that excel in a range of different categories relating to terminal achievements, equipment innovations, ports and individual success, the awards are also one of many informal networking opportunities at the event.
For more information visit www.stocexpo.com.
TankTerminals.com has signed an agreement with a software solutions company to integrate its vessel clearence guide software into TankTerminals.com's database platform.
The agreement with Hobbit Imaging Solutions and its software www.vesselclearance.com results in a combined platform where customers can find all relevant terminal information. Besides general terminal information and storage availability, terminal customers can now automatically complete a vessel clearance request. This partnership will help tank terminals to become the number one platform for terminal information and help terminals and its customers to work more efficiently.
A customer's decision to discharge a vessel at a terminal, depends on whether the vessel is able to perform the requested manipulation (i.e. load/discharge) at a terminal. Therefore vessels go through a vetting process each time they could be nominated, this is called a vessel clearance request. For traders, the swiftness in receiving vetting feedback impacts the decision to make or leave a deal. By automating the vessel clearance process the clearance results are direct available, efficiency is increased, and mistakes are excluded.
Mabanaft has announced a strategic expansion plan at Oikos' storage terminal in the UK to meet growing customer demand and strengthen its position in the country's jet fuel market.
The plan includes a commitment to long-term storage and the construction of a new road loading rack for Mabanaft's exclusive use. It is the first independent road loading distribution project, dedicated to aviation fuel, to take place on the Thames in over 10 years.
Demand for jet fuel continues to rise, and the south east of England represents 75% of the UK's entire jet fuel market and government plans to increase aviation capacity in this region will ensure that volumes continue to grow over the coming years.
The Oikos terminal on Canvey Island has been in continuous use since 1936 and has seen significant infrastructure upgrades over the past five years under the ownership of Challenger Life Company. This includes the refurbishment of all 285,000 m3 of capacity and the rebuilding of jetty 2.
The new deep-water jetty, with 14.5 meters draft, will be capable of accommodating larger international product tankers – LR2 up to 120,000 mts deadweight. The facility is also a unique ingress point for both UKOP and CLH-PS pipelines, providing access to airports in south east England.
Martin Cook, Mabanaft's joint MD, says: 'The Thames is key to supplying the south east of England; so when the opportunity to take a jet position at Oikos came up, we knew it was the right thing to do. Committing to Oikos with a new state of the art truck loading rack, as well as the traditional pipeline links, ensures that Mabanaft will have sole access to a resilient new UK supply route and be able to supply jet fuel to airlines for many years to come.'
USD Partners has entered into a three-year agreement at its Casper Terminal, which involves the construction of an outbound pipeline and new storage tank.
The agreement with a new multi-national, investment grade customer, contains take-o0r-pay terms for terminalling and storage services, as well as fees associated with actual throughput volumes and other services.
The outbound pipeline connection from Casper Terminal will complement its current inbound pipeline connection ot the Express Pipeline and an additional storage tank to facilitate blending and staging operations for the customer. The customer will utlise an existing tank at the terminal for a three-year term and a second tank, once constructed or available, for another three-year term. The construction of the second tank, if needed, is expected to be completed in the second half of 2019.
Randy Balhorn, US development group’s vice president of business development, says: ‘We have mentioned our hub strategy at Casper on previous public earnings calls, and this is the first step in realising that vision. The outbound pipeline connection and additional storage capacity at Casper will contribute to the long-term sustainability of the terminal, giving our customers increased connectivity to various refining centres and pipeline networks.’
Adam Altsuler, the partnership’s chief financial officer adds that the company plans to spend $16 million on the new pipeline connection and storage tank capacity.
Hifa Petrol, a fuel products distributor in Bosnia and Herzegovina, has acquired a liquid storage terminal in Ševarlija, near Doboj.
This acquisition brings the number of terminals that the company owns to five, with the others located in Bukvi near Tešnja, Gruda, Mostar and Vogošći.
The facility comprises a gas terminal with a capacity of 2.5 million litres and an oil terminal with a capacity of one million litres. Both terminals have access to the access road truck. This brings the total storage capacity for Hifa Petrol for oil and petroleum products to 12,600,00 litres. The terminal near Doboj provides stability of supply for oil and oil derivatives.
The facility has state-of-the-art technologies with fire protection in accordance with EU standards. The terminal is fully automated, and the entire process is digitalised, including truck weighing, tapping and weighing.
The company says in a statement that this acquisition makes it one of the most successful oil companies in Bosnia and Herzegovina and that it will continue top provide safe and stable deliveries of petroleum and petroleum products.
Vopak is piloting the use of drones and robots at its Singapore terminal as part of a package of eight global digital projects.
The company is using drones and robots to achieve safer inspections and it is also trialling a digital vessel clearance tool for faster, better and safer clearance process.
Tan Soo Koong, managing director of Vopak Terminals Singapore, says: 'With support from the Singapore Economic Development Board, we have embarked on a digital and innovative transformation journey to make smart terminals a reality.
'In the period 2017-2019 Vopak is investing €100 million in technology, IT and innovation, and a part of it is used to power four of our eight global digital projects in Singapore, driving the company's competitiveness in serving the industry safely and opening up new opportunities for our people.'
The new initiatives tested include drone inspection, jetty inspection using an underwater remote operated vehicle, digital vessel clearance tool and robots for in-service tank inspection.
These initiatives will drive the digital transformation of the industry, leveraging on technology such as IIoT, big data analytics, sensoring, mobile device and robotics to create a safer, sustainable and more productive workplace.
The use of robots for in-service tank inspection avoids sending staff into confined spaces, minimise the exposure of personnel to potentially hazardous conditions, reduce downtime and waste water generation, and save resources. Additionally, the robots can already be used to inspect jetties and pipelines, while drones are being tested for the internal inspection of tanks.
The company's digital vessel clearance tool allows operator to tap on internal data-driven platforms to automatically clear vessels in just four clicks and can provide customers with the latest information on when the terminal can accommodate incoming vessels. This tool is now available at all of its four terminals in Singapore.
Khalil A. Bakar, deputy director, energy and resources at the Singapore Economic Development Board, says: 'Such investments will help catalyse the digital transformation of our energy & chemicals industry and strengthen the competitiveness of our local ecosystem.'
Earlier this year, Vopak tested the use of innovative sensors to monitor the health of product pumps and rolled out the use of ATEX proof mobile devices at the terminals to improve work processes at the terminal and become predictive.
As of Monday, December 10 total oil product stocks in Fujairah stood at 17.739 million barrels – down by 3.2% week on week.
Stocks of light distillates fell by 2.7% week on week to 9.733 million barrels. Stock levels are at elevated levels – up by 33% from the year to date average and by 114% compared to a year ago. Gasoline markets remains in the doldrums globally. Sentiment in the East of Suez gasoline market remained sluggish at the start of the week as concerns over regional oversupply persisted. 'I can't see any supportive factors this winter. Fundamentals and cracks are still weak. The situation is still the same [bearish],' says a Singapore-based market observer.
Stocks of middle distillates slumped by 34.6% week on week to 1.517 million barrels – a 12-month low and the second lowest total on record. Stocks were last lower at 1.212 million barrels on December 4, 2017. The gasoil arbitrage from East of Suez markets was still open and an increased number of Long Range tankers with ULSD have left the Middle East and India to come to Europe this month according to shipping sources and Platts cFlow, trade flow software. The East-West gasoil exchange-for-swaps (EFS) was at minus $14.19/mt yesterday.
Stocks of heavy residues rose by 8.1% week on week to 6.489 million barrels. Bunker demand in Fujairah was little changed the week as crude prices stabilised following production cuts agreed by OPEC and other producers last Friday. However, bunker fuel premiums in Fujairah remained relatively high on lower availability of cargoes in the market. The Fujairah ex-wharf 380 CST premium to the Mean of Platts Arab Gulf 180 CST high sulfur fuel oil assessments was at $13.42/mt Wednesday compared to an average of $5.76/mt since the start of the year. 'December supply is looking to be slightly tighter as it's traditionally a month where people don't have enough cargoes to sell,' a Fujairah bunker trader says.
Industry leading publication Tank Storage Magazine has just published its latest audit BPA statement, providing complete transparency to its customers and advertisers. BPA Group Worldwide is the largest auditor of media in the world and audits more than 2,600 media companies in more than 20 countries.
As a result of this independent audit process, all Tank Storage Magazine’s circulation claims are 100% verified. ‘We have been undergoing this rigorous audit process for seven years now,’ explains Margaret Dunn, the magazine’s publisher. ‘It’s an expensive and exhaustive task,’ Dunn adds, ‘but in today’s business environment the only way to build trust is by providing complete transparency.
BPA scrutinise every single aspect of Tank Storage Magazine’s distribution. Every six months they:
- Telephone a cross-section of recipients on the mailing list to verify they have physically received a regular copy of Tank Storage Magazine,
- Count how much people receive every issue of Tank Storage Magazine to prove circulation figures,
- Examine every single delivery order to prove which conferences & exhibitions Tank Storage Magazine is distributed at,
- Contact a cross-section of readers to check they are relevant, i.e. terminal operators / traders / EPC providers,
- Check the age of the data to ensure everyone receiving the magazine has been verified within the past 3 years.
‘In the advertising world, magazine prices are based on three things: the quality of reader, the total readership figures and the value of the editorial content,’ Dunn explains. ‘As the market leading publication in the storage sector, we pride ourselves on providing the best of all three.’
Since cost of the four Ps — print, postage, paper and people — have skyrocketed over the last decade, the media world has seen the frequency of deceptive claims soar. This reality has affected good brands, Tank Storage Magazine included, that are not cutting but actually investing more money than ever into products and services.
‘Our media pack proudly boasts that we print 40,000 copies a year, but as the market leading publication in the storage sector, it’s absolutely critical to us that we can prove these figures,’ Dunn explains. The audit clearly shows that each of the seven issues is posted to 3,257 named terminal professionals. Plus, an additional 2,489 copies are sent out seven times a year to trade shows and conferences.
Key figures from Tank Storage Magazine’s 2018 audit:
- Tank Storage Magazine is mailed out 7 times per each & each issue is posted to 3,257 named terminal professionals
- Over 15,000 copies of Tank Storage Magazine are distributed to tank storage-related tradeshows every year
- Every person on the mailing list has been verified within the last 3 years
- www.tankstoragemag.com has over 6,000 average users per month
- www.tankstoragemag.com has just under 15,000 average pageviews per month
- 100% of our readership are professionals within the tank storage industry
- 50% of our distribution is to North America
For further information on Tank Storage Magazine contact Margaret Dunn: email@example.com
Tokyo Gas Company and First Gen Corporation have signed a joint development agreement for the construction and operation of an LNG terminal in the Philippines.
The agreement concerns the construction and operation of the first LNG receiving terminal in the Philippines jointly by both companies to introduce LNG as an alternative source of the indigenous gas field, which is expected to decrease in production and be depleted in the near future.
Tokyo Gas received Japan's first ever LNG cargo in 1969 and it will continue to contribute to energy solutions for customers doing business in Southeast Asia and North America.
The company is also striving to develop the natural gas value chain in each region through its partnerships with local energy companies.
Inter Terminals has successfully closed the acquisition of NuStar Energy's European bulk liquid storage business for $270 million.
The acquisition increases Inter Terminals' storage capacity by 33% to 37 million barrels. Historically, NuStar Europe has generated stable cash flows underpinned by cost-of-service and fee-based contracts with a diverse range of customers.
The acquisition was funded by the net proceeds from a $200 million common share issuance that closed on November 7 and capacity available on parent company Inter Pipeline's revolving credit facility.