Aquarius Energy has announced its intention to acquire Oiltanking’s 37% stake in Oiltanking MOGS Saldanha (OTMS) from Oiltanking. OTMS is a state of the art 10 million barrel storage and blending facility in South Africa. Gary Kalmin, CEO of Aquarius Energy, says: ‘We are excited to be investing into the South African energy market. Aquarius will bring its global capabilities to work with our partners and local management for the long-term success of OTMS.’
Aquarius Energy, backed by Tristar and Glencore, is a globally recognised terminal operator. This divestment is part of Oiltanking’s strategic transformation. Aquarius Energy, with its vast experience and global reach, is well-positioned to support OTMS into the next phase of its development
Bas Verkooijen, CEO of Oiltanking, says: ‘The divestment is in line with the Oiltanking Group’s portfolio transformation program previously announced in November 2021.’
The deal is expected to close in Q1 2025.
