July 4, 2023 [Quantum Commodity Intelligence]- Energy company Mabanaft acquired 55 oil product storage tanks located just outside the Danish capital from its sister company Oiltanking GmbH and is looking to add additional storage capacity for renewable fuels.

The total storage capacity of the tank farm, strategically located on the island of Prøvestenen, Copenhagen, is 461,542 cubic meters (or around 2.9 million barrels) and is mostly used to store clean oil products, as well as heavy fuel oil.

Mabanaft said it will continue to operate the terminal for oil products, following the 50-year ownership of Oiltanking, while looking to add additional storage capacity for low-carbon alternatives, such as SAF, advanced biofuels and hydrogen.

“We want to support our customers in decarbonization and the best way to achieve this is by leveraging our core competencies in sourcing, storage, handling and distribution of liquid fuels,” said Jon Perkins, CEO of Mabanaft.

“With this terminal, we are adding another key location to our network, allowing us to expand our presence in Europe and supply our customers in the region with high-quality liquid fuels, while maintaining the highest safety and environmental standards,” he added.

The Prøvestenen terminal operates three births, with a draft of 11.4m and a jetty capacity of 30,000-110,000 dwt.

The deal between the two companies – both owned by Hamburg-based group Marquard & Bahls – was completed on 30 June and announced on Monday.

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