January 20, 2015 [New Era] - Namibia’s current strategy in terms of strategic fuel reserves states that the country should hold between 30 to 45 days of reserves. Currently, it is estimated that all the fuel storage facilities in the country can cater for a mere 15 days or less of strategic fuel reserves.
“This can no longer be. Planning for such short periods holds no security for the country of any sort, specifically if the demand and supply situation is disrupted,” said Managing Director of the National Petroleum Corporation of Namibia (Namcor), Obeth Kandjoze.
Namcor is, however, actively seeking to secure access to strategic storage, which will be significantly boosted with the current construction of a 75-million-litre storage facility in Walvis Bay, which constitutes an investment of close to N$4 billion. The facility, which is expected to be completed by mid-2017, will be operated by Namcor.
Kandjoze stressed the importance of the project from a national security point of view, saying the facilities will enable the country to increase its current storage capacity from 14 to 30 days.
The new bulk storage facility will be the largest fuel storage facility in the country, and the first-ever to be 100 percent owned by government through Namcor. Existing storage facilities are owned by private oil companies. The new facility will allow the country to keep a given threshold of products. With the construction of this facility, Namcor intends to establish depots in strategic towns such as Ondangwa, Grootfontein, Mariental, Keetmanshoop, Gobabis and Luderitz.
Equally upbeat about the new massive storage facility, Walvis Bay Municipality Chief Executive Officer, Muronga Haingura, reaffirmed his council’s support for the project. “When the request came to us to avail land for the project, the council was 100 percent behind it. I have been pleasantly surprised at the lightning speed at which the project has taken off,” said Haingura at the ground-breaking ceremony.
