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Gulf Petrochem shared details regarding the development of its storage facilities in the UAE and India at this week's 2011 Tank Storage Asia expo and conference, which concluded on December 8th at the Kuala Lumpur Convention Centre, Malaysia.

Oil storage terminals figure prominently in Gulf Petrochem’s global expansion efforts. The group has two ongoing projects in Fujairah, UAE and Gujarat, India scheduled for completion by next year.

Phase 1 of the Fujairah oil terminal will have a total capacity of 412,000 cubic meters (cbm) for Class 3 and is expected to be completed by mid-2012. The oil and gas terminal in Gujarat’s Pipivav Port will have an initial capacity of 318,000 cbm for fuel oil, carbon black feedstock, marine diesel oil and bitumen and is expected to be commissioned by late 2012.

Tank Storage Asia 2011 gathered experts representing the entire oil and gas spectrum, from major oil companies and bio-fuel producers to suppliers and bulk liquid storage terminals. The two-day conference stream covered regional market updates, project updates and case studies, trade flow and industry laws. During the event, G.S. Raghavan, Gulf Petrochem’s General Manager of Projects, discussed the design and construction of storage tanks, and also highlighted the company's areas of expertise.

Commenting on the conference, Harsh Sinha, Executive Director, Gulf Petrochem Group, said: "This was also a great opportunity for Gulf Petrochem and Raghavan to showcase our upcoming terminals in the UAE and India along with our other major projects and plans. Our latest developments in tank storage reflect our vision to make the oil storage business one of the key drivers for our rapid growth. We are confident that a range of solutions we offer can drive up efficiencies across the entire supply chain for Malaysia and other Asian markets.”

Gulf Petrochem recently named three new trading officials in key Asian markets as part of its expansion plans in the region. It currently has three global trading desks and has consolidated its team of trading experts in strategic areas. Future plans include the establishment of a European office to tap markets in Europe and Russia.

The group was founded in 1998 and has since grown into a USD 500 million company operating its six business units of oil trading and bunkering, oil refining, grease manufacturing, oil storage terminals, bitumen manufacturing, and shipping & logistics.