February 10, 2012 / 8:39 PM / in 8 years

UPDATE 1-Morocco's new oil terminal to focus on imports

RABAT, Feb 10 (Reuters) -    Morocco, a net energy
importer, said on Friday a 3.2 million barrels new terminal for
oil products will focus on imports and bunkering activity.	
    Located in the Tangier Mediterranean Port, the $180-million
terminal will raise by a third Morocco's storage capacity to
cover 60 days of national needs, the Tangier Port Authority
(TMSA) said in a statement.	
    "The terminal is strategically located at the entrance to
the Mediterranean ... Some 70,000 ships cross the Gibraltar
Straits each year which gives the terminal a strategic position
for bunkering operations and trading," TMSA said.	
    "The terminal's main activity is onshore and offshore
bunkering ... The mission is to supply fuel to vessels within
the port limits as well as outside it," it added.	
    The facility has dedicated 53 percent of the storage
capacity to gasoline and diesel, 43 percent to fuel oil and the
terminal to fuel additives, TMSA said.	
    The terminal will be competing with a similar facility in
the Spanish exclave of Ceuta, surrounded by Morocco.	
    The terminal was developed under a 25-year concession from
TMSA to Horizon Tangiers Terminals (HTT).	
    HTT was formed by UAE-based Horizon Terminals Ltd, Kuwaiti
Independent Petroleum Group and the privately-owned SMDC,
Morocco's leading petrol station operator and a main owner of
storage capacity of oil products.	
    Aegean Marine Petroleum Network Inc has been awarded
a contract for bunkering operations at the terminal.	
    Morocco's other terminal is located in Mohammedia, home to
the country's sole oil refiner Samir.
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