Aquarius Energy has completed its acquisition of Oiltanking’s 37% stake in Oiltanking MOGS Saldanha (OTMS). The company has been renamed as Aquarius MOGS Saldanha (AQMS) and comprises a state-of-the-art 10 million barrel crude oil storage and blending facility located in Saldanha Bay on the West Coast of South Africa.
Aquarius Energy is an independently managed joint venture between Tristar and Glencore, consolidating what was historically Glencore’s global network of oil storage and logistics facilities in key trading hubs. It is a global leader in bulk liquid storage and distribution and operates across the Americas, Europe, Africa and the Middle East.
Gary Kalmin, CEO of Aquarius Energy, says: ‘We are excited to finalise this investment into South Africa. This acquisition will enable us to bring our global expertise to work closely with our partners, customers and local management to ensure the long-term success of AQMS.’
