December 18, 2024 [Mabanaft]- Oiltanking Deutschland GmbH & Co. KG, the Mabanaft Group’s storage division, has signed an agreement to acquire BP Europa SE’s tank terminal in Kassel.

The terminal has a capacity of around 8,500 cubic metres and offers facilities for loading and unloading railcars and trucks.

The acquisition is in line with the Mabanaft Group strategy. Mabanaft offers its customers a broad and flexible range of products, serving the conventional market, while at the same time playing an active role in providing a route to market for low carbon fuel solutions. Expanding and repurposing core assets and capabilities is critical to enable Mabanaft to meet the evolving needs of its current and growing customer base, while contributing to tackling the challenges of the energy transition.

With the acquisition, Oiltanking Deutschland will expand its portfolio to a total of twelve domestic locations. The storage facility offers the Mabanaft Group the opportunity to supply its customers in the greater Kassel region with liquid fuels.

“This terminal adds another key location to our network which will enable us to expand our footprint in Germany further and help us provide high-quality liquid fuel products to our customers in the region, while maintaining the highest safety and environmental standards”, says Reza Adami, Head of Storage at Mabanaft/MD of Oiltanking Deutschland.

The parties aim to complete the transaction in the first half of 2025, subject to fulfilling the necessary conditions. TransTank GmbH, a joint venture between Oiltanking Deutschland and BP, will continue to operate the terminal after the transaction is completed.

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