(EnergyAsia, August 31, Monday) — Germany’s Oiltanking Group said it has increased its shareholding in the Star Energy oil terminal in Dubai’s Jebel Ali free zone from 25% to 50%. The strategically-located terminal is now equally owned with the Abu Dhabi-based Star Energy Group.
The 857,000-cubic metre terminal, which stores and handles a wide range of clean petroleum products, is served by dedicated deepwater berths, making it an ideal hub to serve the markets in the Middle East, the Indian subcontinent and East Africa, as well as for consolidation of cargoes bound for destinations in Europe, the US and Asia.
Coupled with Dubai’s excellent on-shore infrastructure, the terminal provides safe, swift and cost-efficient turnarounds. As it is located in a free trade zone, traders can store and move products free of duties and taxes.
Oiltanking and Star Energy are also partners in a 842,500-cubic metre oil and chemical liquids storage terminal in Oman’s Sohar port.
Oiltanking, a subsidiary of Marquard & Bahls AG, said the two companies are continuing to explore and develop new business opportunities in liquid storage and terminal facilities in the region.
Oiltanking is the world’s second-largest independent tank storage provider for oil products, chemicals and gases.