April 30, 2018 [TankTerminals.com] - All over the world, there are independent tank storage companies that support market players in storing their oil products.
They help oil companies that have downstream obligations with storing products or support trading companies seizing (arbitrage) opportunities or governments and oil companies with building their strategic reserves. Tank terminals have an important of not a primary function in the oil and gas value chain.
Terminals Per Region
At the moment, the TankTerminals.com database consist of 4.628 tank terminals per geographical region. This number is not evenly spread over these regions. The applicable regions are Africa, Asia, Europe, Middle East, Oceania, North America, Central America and South America.
Planned Expansion
In figure 1 can be seen that most of the expansions are planned in the Middle East with 45% of the planned expansion allocated in this region. This region is followed by Asia with more than 25% of the planned expansions and Europe with more than 10% of the planned expansions. North America, Central America and Africa are other regions that have some expansions planned.
In terms of capacity were are talking about almost 40.000kcbm in the Middle East. Asia follows with more than 20.000kcbm and Europe with around 12.000kcbm. The other regions have all less than 6.500kcbm expansions planned.
When we sum all capacity projects that are under construction, under expansion or planned the main growth area is the Middle East that will practically double in capacity. Other relatively fast growing tank storage areas are Africa and Oceania. In absolute terms, capacity growth in these regions is small.
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