Litasco, the Russian oil company, has put into operation 13 new storage tanks via a joint venture with Meroil, a Spanish oil business.
The tanks are located in Barcelona and can store diesel, biodiesel and jet fuel with about 300,000m³ capacity, or about 2.3 million barrels.
The fuel will be sold on the local market or exported to regions such as Africa.
The company made the decision in July 2010 to build the added storage at the existing Meroil terminal in the Port of Barcelona.
With the added capacity, Litasco plans to increase its trading and supply infrastructure in the Mediterranean and North and West Africa areas.
The new storage tanks will allow for better optimisation of oil flowing from the ISAB refinery, located in Sicily, Italy.
Now the total storage at the Meroil terminal is 1 million m³, with the total surface area increasing from 85,000m² to 125,000m².
During the construction of the new tanks, more than 230,000 working hours were completed over a period of 18 months.
Last year the Port of Barcelona began the operation of a new 275m jetty, which means larger vessels of up to 150,000DWT can now be received at the port.