Aegean Marine Petroleum Network, a marine fuel supplier, will begin work on its oil storage facility in the United Arab Emirates port of Fujairah next month.
The oil storage terminal will have a capacity of 3 million barrels, and is expected to be completed within the next 18 to 24 months.
The storage facility will store all grades of marine fuel oil and will support operations of our bunker barges, a company spokeswoman says.
The Fujairah oil terminal will add to Aegean's growing list of oil storage facilities. The company currently operates an in-land storage facility in the UK and is currently developing an onshore storage terminal in Jamaica, and another in Morocco, where it maintains exclusive storage rights.
Including the new facilities in the UAE, Jamaica and Morocco, Aegean's total capacity for the worldwide storage of marine fuel is expected to exceed 7 million barrels.
