EMEA News
UK Bunker Supplier Working on New Storage Tanks
UK bunker suppler the Geos Group is working with the Port of Blyth to build a new storage facility on England's North East coast, according to a joint statement released today.
The initial phase of the project consists of three storage tanks with a capacity of more than 15 million litres, and is reported to cost over £5 million ($8 million).
Scheduled to be completed by mid-2014, and the parties are planning further expansion after that.
The project aims to attract new activity in the oil, gas, and renewable energy sectors in the area
"Given our excellent deep-water facilities and prime location, we believe others will follow to join the significant cluster of organisations within the sector already established around the estuary," said Martin Lawlor, the port's chief executive.
Blyth was said to be one of the fastest growing ports in the region, and the development is the first project at an Enterprise Zone in the River Blyth estuary.
Geos Group managing director Barry Newton commented: "We are delighted that the construction of our new marine fuel storage facility in the Port of Blyth is now underway which will enhance our services to existing and new customers operating in the North Sea and beyond.
We chose Blyth for its strategic location and ambitious expansion plans and look forward to working with the Port and regional partners during an exciting period of growth."
The Geos Group, which has expanded from fuel brokering into supplying, trading, and logistics in recent years, performed its first ship-to-ship bunker transfer recently.
