‘Significant surge’ in storage demand recorded by ENOC Group across terminal operations globally
Through its wholly-owned subsidiary and independent terminal, Horizon Terminals, ENOC Group owns and operates six terminals in the UAE and four in other global markets with a total combined storage capacity of 6.6 million m3 across 346 tanks. Out of this, 4.19 million m3 storage capacity belongs to 211 tanks in the UAE and 2.47 million m3 belongs to 135 tanks outside the UAE.
Now, the wholly-owned Dubai government entity, ENOC Group, has reported “a significant surge” in the demand for storage capacity across its terminals in the UAE, Saudi Arabia, Singapore, Morocco and Djibouti.
Elsewhere, Horizon Terminals said it has implemented a number of stringent measures to ensure business continuity, asset integrity and employee safety. These include the development and activation of a pandemic business continuity plan across all terminals, to maintain critical business operations.
His Excellency Saif Humaid Al Falasi, Group CEO, ENOC, said: “As an integrated energy player operating across the energy sector value chain, we focus on adding substantial value to the business and in helping address industry challenges at critical times. To meet the growing demand for oil storage, Horizon Terminals has further optimised capacity for chemical, petroleum and gas products across all its storage facilities.”
Al Falasi added: “We are well-prepared to fulfil our mandate and provide uninterrupted fuel supply. Our robust supply chain and terminalling infrastructure will meet the storage requirements of our stakeholders. We have invested significantly in scaling up our storage infrastructure in the past years and now we are uniquely positioned to meet the growing demand for storage. With oil prices set to revive by mid-2021, demand for storage will continue to be robust. Our goal is to be the largest independent terminal service provider for bulk oil storage in the Middle East, Africa and the Mediterranean, while maintaining a leading position in the Far East region.”
For more information visit www.enoc.com
6th July 2020
