Equinor is selling its South Riding Point oil terminal in the Bahamas to Estonian logistics and investment company Liwathon Group.
Equinor says: ‘Since we bought the South Riding Point terminal in 2009, the flow in the oil market in North America has changed significantly for Equinor and the company has increasingly sold crude to other regions globally. Consequently, we believe a new owner would be better positioned for the further development of the terminal.’
Liwathon announced in its annual report that operations in Estonia had been affected by sanctions on Russian and Belarusian oil products, following Moscow’s invasion of Ukraine a year ago. The purchase of the Bahamas terminal is a step towards greater security of supply.
