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Puma Adds Hundredth Terminal to Global Network

oil terminal
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By MarEx 2016-11-17 18:17:02

Puma Energy, the globally integrated midstream and downstream energy company headquartered in Singapore, has signed a purchase agreement with BP to buy its bulk storage fuel terminal in Belfast, Northern Ireland. The addition takes Puma Energy’s global network of bulk storage terminals to 100, culminating in a total storage volume of 7.9 million cubic meters of storage capacity. 

The acquisition builds on the purchase of the 1.4 million cubic meter capacity Milford Haven Terminal in 2015, further supporting Puma Energy’s growth within the European market.

The Belfast Terminal provides storage for gasoline, distillates and aviation fuels, with road gantry loading facilities and a jetty berth capable of handling MR class vessels. The site comprises 20 bulk fuel storage tanks with a working capacity of about 143 000 cubic meters.  The 53 acre former refinery site is located between George Best Belfast City Airport and Belfast Harbor in Northern Ireland. The refinery was opened in 1964 and converted to a Terminal in 1982. 

Puma Energy works in the construction, maintenance and operation of terminals and offshore mooring systems. Commenting on the acquisition, Puma Energy’s CEO Pierre Eladari said: “This deal marks an additional milestone in the growth of our business, further supporting Puma Energy’s positon as one of the largest independent, integrated midstream and downstream companies operating today.”

The company opened its 99th bulk fuel storage terminal at Matadi in the Democratic Republic of Congo (DRC) in August, and in April the company began operations in Ghana.

Over the last quarter, Puma Energy has seen a 14 percent growth in sales volumes powered by higher U.K. volumes and organic growth in Americas and Asia Pacific.