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Finnish bunker supplier Neste has confirmed the sale of its terminal in Pietarsaari to the Swedish company Wibax Ab.

Neste explained on Wednesday that the facility would have required further investment in order to be used to store oil products.

"The terminal has not been used for Neste's own operations for many years because the tanks and other facilities are not suitable for storing oil products without investments," Neste said.

Neste said it will not be disclosing the agreed sale price.

As a bunker supplier, Neste is currently offering two products with sulphur levels below 0.1 percent: a DMA-specification marine diesel oil (MDO) named Neste MDO DMB, and an RMB-specification bunker fuel called Neste RMB.

In addition to Finnish ports, the company also recently began supplying low-sulphur bunker fuel in Sweden from its Sodertalje terminal - located around 30 kilometres southwest of Stockholm - on 1st January.

In December, Bunker Index reported that Neste had signed an agreement with Electrawinds ReFuel B.V. to acquire a former biodiesel plant in Sluiskil, Netherlands, located around 135 kilometres south of Rotterdam, near Terneuzen. Neste said it intends to use the facility for the storage and pre-treatment of renewable raw materials for the company's renewable diesel refineries.