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.’