Expected to close in the first half of 2018, Zenith Energy is set to acquire Shell’s liquid storage terminal facility in Hamburg, Germany. However the terms of the transaction has not been disclosed.
Located in Germany’s largest seaport which is also the third largest container port in Europe, the 55 hectares terminal asset is located in the Port of Hamburg. The facility serves as a refined product import and blending terminal with an expected storage capacity of over 480 thousand cubic meters/ 3.0 million barrels for gasoline, diesel and jet fuel; inbound and outbound ocean vessel, barge, rail and truck; and pipeline connectivity in the Port of Hamburg. Even after transfer of ownership, Shell will remain a significant customer of the terminal.
According to Jeffrey R. Armstrong, Chief Executive Officer of Zenith:
“We are pleased to further Zenith’s geographic expansion with the acquisition of these terminaling assets strategically located in the Port of Hamburg, one of the world’s largest trading ports and a key terminaling center for crude and refined products in Europe. This is a natural progression in our growth strategy and underscores our commitment to expand into key European markets. We are excited to be working with Shell, a leader in the global oil and gas industry, and all of our customers in Hamburg, as well as welcoming our new colleagues in the region and further investing in the terminal facility.”
This is the third terminal for Zenith in Europe as it acquired terminaling assets in Amsterdam from BP in April 2016 and Bantry Bay terminal in West Cork, Ireland from Phillips 66 in February 2015. Forming a joint venture with Grupo Coremar in 2014, Zenith also operates a multi-product liquids terminal in Palermo, Columbia. In December 2017, Zenith Energy U.S completed acquisition of Arc Logistics.
About Zenith Energy
An international liquids and bulk terminaling company, Zenith owns and operates over 16 million barrels of crude oil, petroleum products and vegetable oils storage around the world. Headquartered in Houston, USA, Zenith also operates storages in The Netherlands, Ireland and Columbia. Zenith obtained a line of equity of commitment of up to $600 million in the august of 2014 from Warburg Pincus- a leading global private equity firm.
Established in 1833, Shell is a global group of energy and petrochemical companies. It employs around 92000 employees worldwide and is spread across 70 countries. Using advanced technologies and an innovative approach to help build a sustainable energy future, Shell divides its operations into four main categories namely Upstream, Integrated Gas and New Energies, Downstream and Projects and Technology.