Germany-headed Mabanaft GmbH & Co. KG (Mabanaft), a leading independent and integrated energy company, has executed an agreement with compatriot Oiltanking GmbH, one of the largest independent tank storage providers for gas, chemicals, and petroleum products, to acquire a 100 percent stake in the Oiltanking Copenhagen terminal in Denmark.
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Under Mabanaft’s ownership, the Oiltanking Copenhagen terminal will continue to serve its purpose as critical energy distribution infrastructure in the Copenhagen region, handling liquid fuels for road transport and the marine and aviation industries.
The Oiltanking Copenhagen terminal has a storage capacity of 461 652 m3 and is strategically located at Prøvestenen island in the City of Copenhagen.
The acquisition is in line with the Mabanaft Group strategy. Mabanaft proactively engages in the energy transition and offers its customers a broad and flexible range of products, serving the conventional market, and at the same time, playing an active role in the field of innovative low-carbon fuel solutions.
By repurposing existing core assets and capabilities Mabanaft can meet its customers’ changing needs, while collectively taking on the challenges of the energy transition.
We want to help our customers decarbonize and the best way to do this is by leveraging our core strengths of sourcing, storing, handling, and distributing liquid fuels. This terminal adds another key location to our network and will enable us to expand our footprint in Europe and help us provide high-quality liquid fuel products to our customers in the region while maintaining the highest safety and environmental standards, said Jon Perkins, CEO of Mabanaft.
In Copenhagen, Mabanaft will explore additional product streams and service offerings for low-carbon fuels such as sustainable aviation fuel (SAF), advanced biofuels, and hydrogen.
Oiltanking has been operating in Copenhagen for over 50 years and we are proud of the contribution we have made to the energy supply chain in the region. We thank our employees and customers for their support during our tenure, said Bas Verkooijen, CEO of Oiltanking.
The sale has received all required third-party approvals and was completed effective June 30, 2023.
We are delighted to have reached an agreement with our affiliate company Mabanaft and are glad to see that the terminal and its loyal and dedicated team continue their journey as part of the existing terminal network within the Mabanaft Group, ended Bas Verkooijen.
