June 22, 2020
Dubai, UAE; June 22, 2020: ENOC Group, the wholly-owned Dubai government entity, has reported a significant surge in the demand of storage capacity across its terminals in the UAE, Saudi Arabia, Singapore, Morocco and Djibouti.
The increased demand for bulk liquid storage at its facilities is a result of the upward price trajectory, as customers seek storage provision due to the weakening demand for oil in the wake of the Covid-19 outbreak.
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 cubic metres (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.
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.”
With the advent of International Maritime (IMO) 2020 regulations cutting the allowable sulphur emissions from marine vessels from 3.5% to 0.5%, storage demand for low-sulphur fuel oil (LSFO) is set to increase and remain steady till the end of 2021. Horizon Terminals has prepared for this drastic shift to LSFO by adopting strategies for asset optimisation, deploying Operational Excellence Management System (OEMS) for seamless operations as well as ensuring the highest international Health, Safety, Environment and Environment measures in the wake of the current situation.
“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,” added Al Falasi.
Horizon Terminals 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. The plan included guidelines on operating critical functions – including minimum manpower and back up resources, transporting products between terminals, managing a standby fleet of tankers and drivers to transport products as required between terminals in Jebel Ali and Fujairah, as well as limiting ship-shore interaction, without compromising vessel safety and operations.
Other precautionary measures to ensure the safety of employees on site included screening and restriction of entry on terminals, putting distribution teams on weekly rotations, segregating office employees to work from home, as well as providing all employees with ongoing trainings on precautionary measures and safety guidelines to avoid the spread of COVID-19.
Notes to Editor:
- Six Terminals in the UAE with a storage capacity of 4.2 million m3 in 211 tanks
- Four terminals outside the UAE in Saudi Arabia, Djibouti, Morocco and Singapore with a storage capacity of 2.47 million m3 in 135 tanks
- Presence of terminals in the UAE:
- Horizon Terminals in Jebel Ali, Dubai - 53 tanks, with a storage capacity of 54,401m³
- EPPCO International Limited in Jebel Ali - 55 tanks with a petroleum storage capacity of 936,755m³
- Horizon Emirates Jebel Ali Petroleum - Seven tanks with a capacity of 141,500 m³,
- Vopak Horizon Fujairah Ltd. - A capacity to store 2.6 million m³ through 73 tanks
- Horizon Emirates Fujairah Trading Terminal and Horizon Emirates Fujairah Distribution - A joint storage capacity of 463,000m³ in 23 tanks
- International presence of Horizon Terminals:
- Arabtank Terminal in Saudi Arabia - Petroleum and chemical storage of 288,100m³ through 26 tanks
- Horizon Djibouti Terminals - A capacity of petroleum and gas storage of 399,304m³ with 31 tanks
- Horizon Tangier Terminals, Morocco - Petroleum and gas storage of 532,900m³ through 19 tanks
- Horizon Singapore Terminals - A capacity to store 1.25 million m³ in 59 tanks