Vopak, Zamil ink LNG terminal JV deal
Rotterdam (Netherlands), December 26, 2009
Saudi-based Zamil Group said it has signed an MoU with Royal Vopak of the Netherlands to set up a joint venture company that aims to develop independent bulk liquid and liquefied natural gas terminal facilities in the Mena region.
Vopak is one of the world’s largest independent tank terminal operators specialising in the storage and handling of liquid and gaseous chemical and oil products.
The new company will provide tank storage services to the oil and chemical majors, trading companies and natural gas suppliers, said the two companies after the signing ceremony.
This is a further step in both companies’ growth strategy in this important and rapidly
expanding market, said a top Zamil official.
'The Mena area is one of the world’s foremost locations for oil and petrochemicals. The next stage of the region’s development will be the large scale manufacture and distribution of intermediate and specialty chemicals and high quality oil products,' said Ahmed Khan, general manager of Zamil Group Holding.
The production of these value added goods is expected to generate new growth in the industrial base of the Middle East, he added.
Vopak and Zamil Group said developing world class independent bulk liquid storage terminals at strategic locations would be a significant contributing factor in providing the high quality logistic services required for the region’s continuing development.
Zamil group is a global investment and manufacturing group with diverse interests and capabilities in over 60 countries ranging from air conditioning, structural, steel
production, port operations and services, petrochemical & plastics production and ship building.
A pioneer and leader within the business community in Saudi Arabia, Zamil employs some 12,000 people worldwide.-TradeArabia News Service
More Energy, Oil & Gas Stories
- Experts discuss key geosciences issues
- Egypt to permit factories to use coal for energy
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn