June 20, 2022 [Muscat Daily] – Germany-based Oiltanking has been active in tank storage logistics since 1972.
The company owns a portfolio of storage terminal companies, each with a different strategic focus, operating across five continents. Celebrating its 50th anniversary, Oiltanking recently launched a its new brand ‘Advario’ in Oman. In an interview, Yasvin Buckhoreelall, CEO of Oiltanking Terminals & Co LLC, talked about Oiltanking’s global operations and worldwide presence. He also shared views on energy transition opportunities and the company’s future plans for Oman.
Oiltanking GmbH this year celebrates its 50th anniversary. Can you elaborate about the company’s global presence and how it has evolved over past five decades?
The Group was initially founded with a 1 million cube capacity in Germany and in the 1970s, Oiltanking started its international expansion with terminals in Amsterdam and Houston. Over the following two decades, Oiltanking successfully developed its first entity in Asia through a terminal in Singapore and continued to grow with new assets in South America, India, and within Europe. In the early 2000s, Daya Bay and Nanjin represented the Group’s first investment in China and was followed up with new presence in the Middle East with the acquisition of a terminal in Jebel Ali, UAE and the greenfield development in Sohar, Oman. Oiltanking continued to grow in Europe and USA with a landmark terminal in Antwerp and the acquisitions of terminals in Finland, Texas City, and a gas terminal in Antwerp. Further developments in South Africa, South-East Asia added to the portfolio and contributed to the 20 million cubes storage capacity that the company held. In 2022, Oiltanking was rebranded to Advario, with over xx million cubes of storage capacity around the globe. Advario represents a strategic shift for the company, with its focused growth strategy on chemicals, gas and new energy and a strong commitment to embed ESG and sustainability across its entire operations. It incorporates the operational excellence, expertise, and flexibility of Oiltanking with an organizational direction to account for the evolution of the storage industry and rapidly evolving needs of our customers.
Advario Terminals recently introduced its brand in Oman. What are the company’s immediate and future plans for the Omani market?
After 15 years under the global brand of Oil- tanking, the Group decided to carve out 13 of its terminals and place them on a new road for growth in strategic markets. The new carve-out, Advario, is focused on developing infrastructure solutions to support the energy transition whilst balancing the current needs of our customers and stakeholders. Advario Oman will continue to build on the strong foundation established by Oiltanking, with the ambition to grow the business in a sustainable manner and achieve a net-zero carbon footprint by 2040. The company also aims to strengthen its Employee Value Proposition to enhance its status as an Employer of Choice within the region.
Oman has heavily invested in building logistics infrastructure and energy projects in recent years. Given these developments, how do you see business prospectus for Advario Terminals in Oman and what solutions do you plan to provide in this market?
Oman is a country with a huge potential for further development in the field of new ener- gies and can take a leadership role in the en- ergy transition. Advario Oman will continue to nurture strong relationships with existing and new customers and partners and aim to capi- talize on Oman’s strategic position in the re- gion. Advario Oman will also focus on providing industry leading infrastructure to support the significant growth we’re seeing for the greener molecules. Our solutions are di- verse and backed by our 50 years of expertise originating from Oiltanking. We have a proven track record in applying the most relevant technologies when it comes to design, con- struction and operations of world-class infra- structures.
AdvarioTerminals is widely recognized for its leading global role in the energy storage and logistics infrastructure. How does the company’s strengths fit into Omani market which is building mega oil storage and energy export terminals, particularlyinDuqm?
We’re proud of our longstanding track record in the Middle East and particularly in Oman. We have had the opportunity to build a strong business from the ground up here in Sohar and collaborate with leading partners locally and internationally. The location of Duqm for the continuous green power generation makes it an ideal spot to produce green molecules and Advario Oman is well-positioned to support with the right expertise and depth of our global portfolio. Furthermore, Advario Oman is committed to supporting the Oman 2040 Vision and working together with our stakeholders to efficiently develop top-tier storage infrastructure.
How does Advario Terminals see energy transition goals in terms of future opportunities ? Any plan to introduce any new entity to target energy transition opportunities in the Middle-East
We see that the Middle East presents a lot of opportunities and our presence in Oman and the UAE are strong anchors that allow us to support our existing and prospective partners in the region. A major component of Advario Oman’s strategy is to support and expedite the energy transformation. With a focus on gas, chemicals, and new energy, Advario Oman is well prepared to support our partners in their planned developments. As a company, Advario has committed to being net zero by 2040 and we are eager to help our partners in their sustainability pursuits.
Going forward, what are you plans in terms of knowledge transfer and training for Omanis for the areas of your business?
With a 90% Omanisation rate, we are very proud of our current legacy. We have also made a conscious effort to recruit locally in Oman and 50% of our Management Team comprises of Omanis. Our global network allows for daily interaction with colleagues outside of Oman and continuous opportunities for individual growth. As we introduce new technologies on an ongoing basis, we also ensure that our teams are fully trained to promote their development and deliver on the evolving needs of our customers. Moreover, through the global network, our teams regularly participate in cross-regional meetings and are often called to travel abroad to learn and teach their colleagues in other locations. Advario Oman also integrates Leadership training and coaching sessions in its routine knowledge transfer programmes for its people.
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