EMEA News
Abu Dhabi Plans Liquid Bulk Storage to Support Multi-Fuel Bunkering
UAE-based AD Ports Group has signed an agreement with tank storage provider Advario to develop and operate green energy and liquid bulk storage projects both in the UAE and internationally.
The partnership aims to position Abu Dhabi as a global hub for multi-fuel bunkering.
As part of the agreement, the two companies plan to establish a joint venture, with AD Ports Group holding a 51% stake and Advario owning the remaining 49%, AD Ports Group said in a statement on its website last week.
The joint venture will seek to establish bulk storage tanks at Khalifa Port and pipelines to support the storage of ammonia, methanol and other alternative fuels.
"We look forward to exploring this joint venture, which has the potential to build on our Group's growing investment in sustainable infrastructure, in line with the vision of our wise leadership in the UAE to position Abu Dhabi as a global hub for multi-fuel bunkering and sustainable energy solutions," Captain Mohamed Juma Al Shamisi, CEO of AD Ports Group, said in the statement.
