March 10, 2011 [Bloomberg] - Delta Petroleum Co., Turkey’s largest independent oil-storage company, plans to expand capacity and construct a jetty at the port of Ceyhan, where flows are set to double in the coming two years.
Delta will add 400,000 cubic meters to its current capacity of about 650,000 cubic meters and build a 2.5-kilometer (1.5- mile) long jetty, said Sami Habbab, a member of Delta’s executive board, at the European Oil Storage conference hosted by Platts in Amsterdam.
Flows through Ceyhan are likely to rise to 200 million metric tons in the coming two years from 80 million to 100 million now, as pipeline supplies from Russia, Iraq and the Caspian Sea region increase, according to Habbab.
The new jetty, which will supplement Delta’s storage business by facilitating vessel aggregation and throughput, will cost more than the storage expansion, he said, without providing more financial details.
“Jetties are costly,” Habbab said. “But they provide long-term value.”
