Fujairah Oil Terminal eyes more investment in port storage, infrastructure

Dubai — Fujairah Oil Terminal is looking to finalize plans to increase its storage capacity by 10% at the Port of Fujairah and connect its entire terminal, including crude oil storage tanks, to the VLCC jetty, according to the company's commercial director, Malek Azizeh.

The storage capacity will be for clean products such as gasoline, naphtha and gasoil, Azizeh said July 1 in an interview with S&P Global Platts. He had mentioned the plans on a Gulf Intelligence webinar earlier in the day. FOT currently has storage capacity of 1.2 million cu m, for both crude and products.

"We've been operating now at Fujairah for six years and we see the growth potential," Azizeh said. "We see cooperation from the government point of view and how much investment they're making in infrastructure."

Fujairah Oil Terminal is also looking to finalize plans to connect its entire terminal including crude oil tanks to the VLCC jetty (Matrix Manifold 2 of Port of Fujairah), he said. Both the capacity expansion and jetty connection would cost an estimated $80 million-$100 million over two years, Azizeh said.