Mercuria and Sinopec Kantos Establish a New International Partnership in Liquid Bulk Storage
Mercuria Energy Asset Management B.V. (“MEAM”) a wholly owned subsidiary of Mercuria Energy Group Limited (“Mercuria”), is pleased to announce the signing of binding agreements with Sinomart KTS Development Limited (“Sinomart”), a wholly owned subsidiary of Sinopec Kantons Holdings Limited (“Sinopec Kantons”), to form a new international joint venture in liquid bulk storage. The agreed transaction includes the sale of a 50% equity interest in Vesta Terminals B.V. (“Vesta Terminals”) by MEAM to Sinomart.
At a ceremony today in Beijing, the Sale and Purchase Agreement was signed by Mr. Anton Klomp, Chief Executive Officer of Vesta Terminals and the Managing Director of Sinopec Kantons, in the presence of Mr. Paul Chivers, Group Head of Corporate Development, Mercuria and senior members of the Sinopec Group including the Deputy General Director of the Foreign Co-operation Office.
Vesta Terminals is a leading independent liquid bulk storage operator in Europe with a total of approximately 1.6 million cubic meters of petroleum products and biofuels capacity at three terminals in Antwerp, Flushing and Tallinn. Following transaction completion, which is subject to certain conditions precedent including satisfaction of relevant regulatory processes, Vesta Terminals will continue to provide storage services to existing and new third party customers alongside its new shareholders.
The partnership envisages the further expansion of Vesta Terminals’ existing sites and the joint development of international projects.
Paul Chivers said “This transaction further underlines the significance Mercuria places on our relationships in China and the close international co-operation of Mercuria with the Sinopec Kantons group. Sinopec Kantons is an outstanding partner for Vesta Terminals and we see many exciting opportunities to jointly develop this business. The entry of Sinomart as a major shareholder in Vesta Terminals strongly supports Mercuria’s strategic plans for the future, and for Vesta Terminals’ employees and customers it represents a strong vote of confidence in the business”.
Commenting on the transaction, Sinopec Kantons Group said "We sincerely hope that this project, in bringing the joint venture partners together, will achieve our common goal and maintain a win-win relationship in the future".
Bank of America Merrill Lynch were financial advisors to Mercuria on this transaction.
Mercuria is an international group of companies and one of the top five companies globally trading a wide spectrum of energy & commodity markets including crude oil and refined petroleum products, natural gas (including LNG), power, coal, base metals, biodiesel, and carbon emissions. In 2011 Mercuria had sales of over $75billion and has over 30 offices worldwide. In addition to its trading core, Mercuria owns up-stream and mid-stream assets ranging from oil reserves to infrastructure and storage terminals. It also has substantial investments in the upstream coal sector.
About Sinopec Kantons
Sinopec Kantons is a company incorporated in Bermuda with limited liability, with shares listed on The Stock Exchange of Hong Kong Limited (Stock Code: 934). Its principal activities are the trade of crude oil and petroleum products, the operation of crude oil terminals and their ancillary facilities, provision of logistic services including the storage, logistic, terminal services and the distribution of oil and oil products and international logistic agency services.
- Compelling results for blockchain oil-trade test ING, Société Générale, and Mercuria22.02.2017
- TRANSGLOBE ENERGY CORPORATION announces execution of prepayment agreement and marketing contract10.02.2017
- Pin Oak Holdings announces it has closed on a $100 million equity investment led by Dauphine Midstream and Mercuria Energy05.12.2016
- Mercuria Exports U.S. Energy to New Markets26.09.2016
- Mercuria Energy Trading SA successfully closed a USD 2.2 Billion Multi-Currency Revolving Credit Facility10.06.2016
- Mercuria to provide direct and sponsored access liquidity to Nasdaq Commodities European Power and Gas Markets11.05.2016
- Mercuria Energy Acquires Rocky Mountain Crude Business Unit from Enterprise Crude Oil LLC17.02.2016
- Mercuria welcomes Strategic Investment by ChemChina18.01.2016
- Minerva Bunkers starts physical supply operations offshore West Africa07.01.2016
- Mercuria Announces Strategic Investment from China Materials Storage and Transportation Development (CMSTD) to Expand Henry Bath Warehousing Business05.01.2016
- Mercuria Signs Asia USD 1.1 billion Revolving Credit Facilities 19.11.2015
- Mercuria Energy Group Ltd Announces Exclusive Agreement with Forte Oil Plc09.10.2015
- Mercuria Energy Closes Multicurrency Revolving Credit Facilities at USD 2.5 Billion22.06.2015
- Mercuria trades the first lots of German base load on CME Europe18.06.2015
- CITI fails in China metals claim against MERCURIA22.05.2015
- Mercuria Announces Expansion to Minerva Maritime Fuel Business12.03.2015
- Mercuria Hires More Than 40 Marine Fuel Specialists from OW Bunker15.12.2014
- Mercuria Signs Asia $1.0 Billion USD Revolving Credit Facilities18.11.2014
- Mercuria Closes Acquisition of J.P. Morgan Chase Physical Commodities Business03.10.2014
- Mercuria Announces U.K. Financial Conduct Authority Authorization22.09.2014
- Mercuria forms partnership with Pemex08.08.2014
- MERCURIA ENERGY TRADING SA successfully renewed and increased a USD 2.65 BILLION Multi-Currency Revolving Credit Facility26.06.2014
- Mercuria Announces Acquisition of J.P. Morgan Physical Commodities Business19.03.2014
- Mercuria Signs its Asian USD 1.0 Billion Revolving Credit Facilities28.11.2013
- Mercuria CFO's interview with EuroTreasurer - "We Have Seen a Flight to Quality"29.10.2013
- Mercuria CFO im FINANCE MAGAZINE - Interview09.10.2013
- Mercuria Invests $50m in Amromco Energy24.09.2013
- Mercuria successfully raises USD 1,800,000,000 Revolving Credit Facility02.07.2013
- Success of the Second FT Global Commodities Summit29.04.2013
- Mercuria Interview with Le Temps27.04.2013
- Mercuria Participates in a Pioneer CDM Project in West Africa26.03.2013
- Mercuria Partners with KW Express to Construct Crude by Rail Project in Houston22.02.2013
- FT Global Commodities Summit 201320.11.2012
- Announcement of New Senior Executive01.11.2012
- Mercuria Announces a New USD 700,000,000 Uncommitted Secured Borrowing Base Financing30.10.2012
- Mercuria Advances Asian Hard Commodities Strategy18.10.2012
- Mercuria and Sinopec Kantos Establish a New International Partnership in Liquid Bulk Storage15.10.2012
- Mercuria Strengthens its Growing Presence in China 18.07.2012
- Mercuria Grows its Global Metals Trading Business17.07.2012
- Mercuria Energy Successfully Raises USD 1,700,000,000 and EUR 145,000,00001.06.2012
- Mercuria Advances into Global Metals Markets03.05.2012
- Certified Emission Reductions: Mercuria Participated in Record Transaction19.04.2012
- Mercuria sponsors the first Financial Times Global Commodities Summit15.03.2012
- Mercuria interview with Reuters01.02.2012
- Mercuria Sponsors the First Financial Times Global Commodities Summit16.01.2012
- Mercuria Energy Group Ltd Signs a USD 755 Million Syndicated Revolving Credit Facility in Asia07.12.2011
- Mercuria US Coal Financing and Investment06.10.2011
- Formation of a Joint Venture by Mercuria and Datang24.08.2011
- Mercuria Energy Group, Anchor Investor in IFC's Now Active Carbon Credit Fund03.06.2011
- Mercuria to Participate in IFC's Carbon Credit Fund02.02.2011
- Mercuria Signs a USD 500 Million Syndicated Revolving Credit Facility in Asia15.12.2010
- Mercuria Energy Group Acquires Strategic Coal Concession in Indonesia16.11.2010
- Mercuria Energy Group Makes Strategic Carbon Business Acquisition03.11.2010
- Mercuria Enters Into a Strategic Coal Marketing Alliance with Optimum Coal of South Africa03.11.2010
- Strong Demand Leads Mercuria Energy Trading to Increase its New Revolving Credit Facility to USD 1,250,000,00014.06.2010
- Mercuria's Dutch Affiliate Laid The Foundation Stone For Vesta Biofuels Amsterdam05.03.2010
- Mercuria Seeks Oil Tanks, Coal Mines in US Drive03.03.2010
- ECT Arbitration Mercuria Energy Group LTD V. The Republic of Poland: The Arbitral Tribunal Confirms That It Has Jurisdiction26.01.2010