Totsa, the trading arm of France’s TotalEnergies, is moving its gasoline trading operations from Dubai’s Jebel Ali to Fujairah. The contract for the firm’s existing gasoline tanks at Star Energy Advario’s storage facilities at Jebel Ali expires at the end of June (MEES, 8 March), and MEES understands that it has now reached an alternative commercial agreement with a storage provider at Fujairah.
While Totsa has a long presence at Jebel Ali, close to refining assets in Saudi Arabia and Qatar where TotalEnergies has equity stakes, Fujairah is by a long way the Middle East’s largest storage hub. Fujairah has around 12mn m³ of total oil storage capacity, excluding Adnoc’s now-mechanically complete but not yet commercially operational 42mn barrel (6.7mn m³) crude oil storage caverns. In contrast to this, Jebel Ali has storage capacity of around 4mn m³, most of which is held by Dubai state firm Enoc which operates a 210,000 b/d condensate splitter at the site. (CONTINUED - 651 WORDS)
