06.04.2016

Thames Oilport completes first phase of development

THAMES OILPORT RESS RELEASE

Today Thames Oilport celebrates the receipt of the first in a series of diesel shipments to be stored on site. The arrival of these shipments is a major milestone that brings fuel into the terminal for the first time since the closure of the Coryton refinery.

The development of Thames Oilport is being carried out in phases. The current phase brings into use some 176,000 cbm of tankage, which will be used by Greenergy for diesel storage to take advantage of contango market conditions. It follows extensive refurbishment of tanks in the east part of the site ranging in size from 24-39,000 cbm, as well as redevelopment and automation of a complex pumping exchange and a network of piping connecting the tanks to the Thames jetty. At this stage of Thames Oilport’s development, fuel is being moved into and out of the terminal by ship.

The works have been carried out by the team employed at Thames Oilport, supported by contractors carrying out a range of specialist functions including engineering, fabrication, cable installation, piping modifications and tank repair. This site-experienced team will now continue work to complete the next phase, adding a further 64,000 cbm of storage by the third quarter 2016.

Chris Brookhouse, Chief Executive of Thames Oilport, commented:

“Everyone here is delighted to have oil back on site at last. There has been a lot of activity to prepare for this day, and there’s a lot more still to do. We have a route-map to continue to develop the facility, and we’ll be bringing more tankage into use by the end of the year and adding more capability thereafter.”