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Mon 5 Oct 2009, 07:23 GMT

Mercuria acquires Antwerp oil terminal


Energy firm says acquisition will allow it to benefit from economies of scale and synergies with other terminals.

Mercuria Energy Asset Management B.V., the holding company managing the fixed assets of the Mercuria Energy Group, has announced the successful acquisition of Nafta (B) N.V., a company operating a 830 thousand cubic meter storage terminal for petroleum products in the Port of Antwerp.

The terminal can be used to store a wide range of products from fuel oil, middle distillates, light ends and chemicals to crude oil and gas condensates. Products are imported by barge and seagoing vessels of up to 100 thousand metric tons, and exported via sea, rail, road and pipeline. The terminal can be further expanded by an additional 300 to 400 thousand cubic meters of storage capacity.

Mercuria is currently the largest user of the terminal and regards it as a strategic asset which can be developed into a major trading hub in the important Amsterdam-Rotterdam-Antwerp region.

"The acquisition will allow Mercuria to benefit from certain economies of scale and synergies with its other terminals," the company said.

"Mercuria is fully committed to a significant long-term investment program which will upgrade the terminal to the latest standards with regard to safety, health and the environment and which is further aimed at improving the operational efficiency and service offered to its customers," Mercuria added.

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