Oiltanking GmbH, corporate

Oiltanking GmbH,

08.10.2018 - 10:02:24

Oiltanking GmbH: Oiltanking Antwerp Gas Terminal further expands its site with the construction of a new propane tank

PRESS RELEASE

Oiltanking Antwerp Gas Terminal further expands its site with the construction of a new propane tank

Antwerp, Belgium, October 8, 2018 - Oiltanking Antwerp Gas Terminal (OTAGT) already is a long-term logistics partner of Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. As part of the agreement, OTAGT expands its partnership for handling and storing more propylene and propane, further strengthening its position as an integrated partner of the petrochemical industry.

OTAGT will build a new 135,000 cbm propane storage tank to supply the Borealis production facility in Kallo, Belgium. Borealis will construct a new world-scale propane dehydrogenation (PDH) plant in addition to its existing facilities in Kallo. The final investment decision was recently taken following the successful completion of the Pre-Front-End Engineering Design (FEED) study. Commissioning of the new PDH plant is scheduled for the beginning of 2022.

OTAGT's successful development thus continues. Only two years ago, in mid-2016, Oiltanking acquired the Antwerp Gas Terminal, and accelerated working on the enormous expansion potential. In early 2017, a contract was signed for the construction of a 135,000 cbm fully refrigerated butane tank that will go into operation in 2019. Together with the newly planned propane tank, OTAGT will have almost tripled its current capacity.

Daan Vos, Managing Director Oiltanking West of Suez says: "I am looking forward to continue the long-standing partnership and the confidence placed in Oiltanking for handling propylene and propane and the further integration into the logistics chain of Borealis.

Oiltanking Antwerp Gas Terminal NV, a fully-owned subsidiary of Oiltanking GmbH, is located in the port of Antwerp and is one of the largest independent terminals in Europe for storage, throughput and distribution of LPG's and petrochemical gases.

Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of energy supply, trading and logistics. Oiltanking is one of the largest independent tank storage providers for petroleum products, chemicals and gases worldwide. The company owns and operates 76 terminals in 25 countries within Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region. Oiltanking has an overall storage capacity of 20 million cbm.

For more information on Oiltanking and Marquard & Bahls, please visit www.oiltanking.com and www.marquard-bahls.com.

For media inquiries, please contact:

Karl Henrik Dahl Director Oiltanking West of Suez Oiltanking GmbH Tel.: +49 40 37004-7444karl.dahl@oiltanking.com Nancy De Groof Regional Director Commercial & Business Development Oiltanking Europe Tel.: +32 3 561-1502nancy.de.groof@oiltanking.com

Michel Ruttens General Manager OTAGT Tel.: +32 3 5709271michel.ruttens@oiltanking.com

End of Media Release Issuer: Oiltanking GmbH Key word(s): Energy

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