- Zenith expects to take ownership of the terminal by the end of Q1 2016.
- The facility has storage capacity of over six million barrels for gasoline, ethanol, middle distillates, biodiesel, kerosene, and LPG.
- The terminal can service oceangoing tankers up to 135,000 tons and has multiple berths for barges and ships.
- BP will remain a significant customer of the terminal after the transfer.
Acquisition Details
Zenith Energy has signed an agreement to acquire a liquids storage terminal facility in Amsterdam from BP. The ownership transfer is expected by the end of Q1 2016, following a transition process. Terms of the transaction were not disclosed.
Strategic Location and Capabilities
The terminal is strategically located on the North Sea Canal in the Amsterdam, Rotterdam, and Antwerp (ARA) region, which is the largest concentration of refining capacity in Europe and a major refined product trading hub. The facility offers over six million barrels of storage for gasoline, ethanol, middle distillates, biodiesel, kerosene, and LPG. It also features advanced blending capabilities, connectivity for ocean vessels, inland waterways, and trucks, and a deep draft to service oceangoing tankers up to 135,000 tons with multiple berths for barges and ships. Additionally, it has the leading truck loading facility in Amsterdam and significant room for expansion projects. The terminal is an approved delivery point for ICE gasoil futures contracts.
BP's Continued Involvement
BP will remain a significant customer of the terminal after transferring ownership to Zenith.
Zenith's Expansion Strategy
This acquisition supports Zenith's geographic expansion, following its acquisition of the Bantry Bay terminal in West Cork, Ireland, from Phillips 66 in February 2015, and the startup of its new multi-product liquids terminal in Palermo, Colombia, a joint venture with Grupo Coremar. Zenith is actively pursuing opportunities to buy, build, and operate petroleum liquids and petrochemical terminals and related logistics, including distribution assets such as pipelines, truck racks, and barges, primarily in Latin America, the Caribbean, Europe, and Africa.
