Zenith Energy has completed its previously announced acquisition of liquids storage and handling facility in the international port of Amsterdam, the Netherlands, from BP.
Located on the North Sea Canal in the Amsterdam, Rotterdam and Antwerp (ARA) region, the terminal has a capacity to store more than six million barrels for gasoline, ethanol, middle distillates, biodiesel, kerosene and liquefied petroleum gas (LPG).
It has capabilities for blending, along with significant room for expansion projects.
The ARA region represents the largest concentration of refining capacity in Europe.
Zenith said that the Amsterdam facility has a truck loading facility and an approved delivery point for ICE gasoil futures contracts.
The terminal is easily accessible for ocean vessels, inland waterways and trucks, and deep draft to service oceangoing tankers up to 135,000t with multiple berths for barges and ships.
Zenith aims to completely use its capacity for products and LPG storage and plans to invest approximately $100m in the Amsterdam terminal.
Zenith Energy president and CEO Jeff Armstrong said: "This transaction is a significant step forward for Zenith and places us at the centre of a key geographic region for the energy industry.
"With these investments, Zenith will deliver a state-of-the-art, efficient products storage and distribution system to service this important hub."
The acquisition will enable Zenith to further its geographic expansion.
