The 2012 completion of a 1.5mn b/d oil pipeline linking Abu Dhabi’s onshore oil fields to Fujairah has cemented the UAE emirate’s role as a strategic crude and oil products storage hub, with proposed new tanks by a leading storage provider already committed to an undisclosed client.
Royal Vopak said on 30 December that the 7th expansion of Vopak Horizon Fujairah, its petroleum storage joint venture, will feature five storage tanks for crude oil, one manifold and a pipeline connection to a new VLCC jetty at the port of Fujairah. Fujairah has the advantage of lying outside the heavily congested Strait of Hormuz, one of the world’s busiest tanker routes that accounts for a third of global waterborne oil trade (see map). (CONTINUED - 861 WORDS)
