(EnergyAsia, February 27 2014, Thursday) — Horizon Terminals Limited (HTL), the terminals business and wholly-owned subsidiary of Dubai’s Emirates National Oil Company (ENOC), has officially launched its 240,000-cubic metre oil storage terminal in Fujairah port.
At a ceremony on Tuesday, Fujairah ruler Sheikh Hamad Bin Mohammed Al Sharqi opened the US$100 million terminal that started up last year.
Linked to the port’s oil tanker berths, the Horizon Fujairah Distribution terminal has 10 bays of tanker truck loading racks, associated facilities, an advanced maintenance workshop, and marine receipt and loading pump house. It is equipped to meet the region’s growing demand for storing fuel oil, naphtha, gasoline, gasoil, jet fuel and LPG.
Located on the west side of the Fujairah-Khorfakhan highway, it was built by Singapore-based EPC contractor M/s Audex Pte Ltd.
In thanking the ruler and the Fujairah government for their support in establishing the emirate as a major oil and gas storage centre, ENOC’s CEO, Saeed Khoory, said:
“The terminal strengthens the storage capacity offered by Fujairah, which will serve the needs of the Gulf region that accounts for nearly 50% of the world’s crude oil reserves.
“The terminal has added great value to the emirate, by creating new jobs and supporting the ancillary sectors. We are committed to strengthen our operations in Fujairah, and support the government’s vision for all-round social and economic growth.”
ENOC’s managing director (terminals), Yusr Sultan, said:
“The vision of the Fujairah government to draw on its strategic location and build its competencies in oil and gas terminalling operations is now a reality.”
The terminal is the company’s second in Fujairah, the sixth in the UAE, and the 11th in its global portfolio.
HTL is developing its 12th terminal in Dubai’s Jebel Ali with a storage capacity of over 141,000 cubic metres.
HTL manages more than six million cubic metres of oil storage in its network of 10 operating terminals in the UAE, South Korea, Singapore, Djibouti and Morocco.