LONDON, Oct. 31, 2016 /PRNewswire/ -- VTTI, the global independent provider of energy storage, and Energia Naturalis Holding (ENNA), have signed an agreement for the purchase by VTTI of 70% of Adriatic Tank Terminal (ATT) in the Port of Ploce, the main Adriatic deep-water port. VTTI and ENNA will jointly expand and operate the newly built terminal in the Port of Ploce. The closing of the transaction is subject to closing conditions, including regulatory conditions. VTTI will manage the newly-completed tankage for clean petroleum products (CPP), and shall construct and operate further tank capacity alongside a significant new LPG (Liquefied Petroleum Gas) storage capability, with leading-edge technology.
Phase 1 of ATT is already constructed: in September 2016, the terminal completed the construction of 50,000 m3 capacity for clean petroleum products. Phase 2 will deliver over 200,000 m3 of petroleum storage, as well as up to 60,000 m3 of LPG storage; this will be the largest new LPG storage project in the heart of the Adriatic. In the future, additional space would allow the option of a Phase 3 project for further storage of minimum 100,000 m3 of petroleum products.
Good news for the region
This growing terminal will play an important strategic role in strengthening the region's security of energy supply. It will also complement the prime location and deep water of the Port of Ploce, with significant extra storage capacity for CPP and LPG products.
The terminal will meet the highest standards of safety, with firefighting and vapour recovery technologies that meet the latest EU and global safety and environmental regulations.
Rob Nijst, CEO of VTTI, said: "VTTI is very pleased to enter the Adriatic market, supported by our JV partner. The facility will enable the region's energy trade by developing a safe and efficient terminal facility. The growth of the city of Ploce and the region will gather even more speed in the near future, and we are there to support it."
Pavao Vujnovac – ENNA, said: "We are delighted to bring a reliable, strong partner into Croatia, with whom we have established excellent cooperation. Together, we will work on developing the potential of the Port of Ploče as a major Mediterranean port. Through this investment, as with others, we are encouraging the development of Croatian resources in order to achieve influence in the region and improve the quality of life of the community in which we work."
Notes for Editors
The Port of Ploce
Ploce is one of the main strategic deep-water ports of the Central Adriatic. Its excellent transport links and favourable geostrategic position make it a natural hub to enable efficient movement between the Adriatic, Mediterranean and Central Europe.
A deep-draft jetty is currently under development that will allow the port to serve larger vessels, opening the Adriatic market to the world's energy trade.
ATT: excellently connected
ATT is directly connected to the Pan-European corridors, connecting all major destinations in the Balkan region, and is linked to the national highway systems. Additionally, ATT is connected to the international railway network, unlocking the hinterland of the Balkans (i.e. Bosnia-Herzegovina, Serbia and beyond).
VTTI is a fast-growing independent provider of energy storage worldwide. We were founded in 2006, and today we offer 8.7 million cubic meters of combined storage capacity across 5 continents. This will rise in the near future as new projects come on line.
About Energia Naturalis
Energia Naturalis (ENNA) is a holding company involved in the energy, infrastructure and logistics sector. The companies in the group do business in Central and Eastern European countries.
ENNA owns 20 companies, of which the best known are gathered in the PPD Group and are engaged in the trade, distribution and supply of natural gas. The company owns 25% of the shares in the Port of Ploče.
SOURCE VTTI Energy Partners LP