VARO Energy selling terminal
Published by Francesca Brindle,
Editorial Assistant
Tanks and Terminals,
Roth and VARO Energy (VARO) have announced an agreement to transfer the storage terminal Hanau in an asset deal from VARO Energy TankstorageGmbH (formerly Petrotank) to Adolf Roth GmbH & Co. KG.
The terminal, which opened in 1961 and has a total capacity of 9700 m3, is used for heating oil and diesel. This transaction complements Roth’s geographical positioning and optimises the utilisation of the terminal’s capacity. For VARO, the divesting of this asset is part of the ongoing development of the company’s portfolio.
The transfer of the terminal to Adolf Roth GmbH is scheduled for 1 February 2017. Further terms of the transaction were not disclosed.
Read the article online at: https://www.tanksterminals.com/storage-tanks/05012017/varo-energy-selling-terminal/
You might also like
Hydrocarbon Engineering Podcast
Peter Davidson, CEO of the Tank Storage Association (TSA), joins us to discuss the essential role that the tank storage sector has to play in ensuring supply security and resilience, as well as in facilitating the energy transition.
ADNOC Gas signs 10 year LNG supply agreement with Hindustan Petroleum
ADNOC Gas plc has announced the signing of a heads of agreement with Hindustan Petroleum Corp. Ltd to supply 0.5 million tpy of LNG for a 10-year term.