May 23, 2012 [OPIS] - TotalErg is to permanently close their 86,000-b/d Rome refinery at the end of the third quarter this year to convert it into a storage terminal.
The board of directors of TotalErg, a joint venture between Italy’s ERG (51%) and France’s Total (49%), approved the project last week for the transformation of the refinery site into a major logistics hub for the storage and handling of petroleum products.
“The area served by the refinery is characterised by a high demand for transportation fuels, which the refinery production is not able to meet. As a result, the Rome refinery is also an important logistical base.” ERG says of the refinery on its website. The structure was used as a transit depot, with product volumes equivalent to 50% of their refinery production imported in.
Earlier this month, ERG said they were planning to reduce their exposure in the unprofitable refining business and focus more on renewable energy.
