VTT Vasiliko Ltd (VTTV) Oil Storage Terminal
During November 2014 VTT Vasiliko Ltd. (VTTV) opened a €300m oil storage terminal for business. VTTV operates as a subsidiary of VTTI B.V., which is an independent provider of energy storage worldwide. Located on the south coast of Cyprus between Larnaca and Limasol, the terminal's strategic location makes it the first of its kind in the Eastern Mediterranean region, connecting Europe and the Black Sea with markets in the Middle East and Asia.
The terminal itself is the result of four years of development, with planning beginning during September 2010 and involving preparation, design, tenders, contracts, construction and finally the serving of oil traders and other interested parties.
Phase one of the VTTV terminal includes 28 tanks, totalling 544,000m³ capacity for a wide portfolio of products such: Gasoline, diesel, gas oil, jet fuel, kerosene, naphtha, MTBE and FAME, a 4 jetty berths that extends 1500m offshore, for ship tankers from 5K to 165K DWT, with Capability of loading/discharging vessels at 2500 m3/hr/product
First year of operation:
In 28th November 2015 VTTV has completed the milestone of one year of successful operation in all aspects.
VTTV is planning to expand the terminal, diversify customers’ portfolio and evaluate regional opportunities e.g. LPG and LNG. Currently the company is evaluating a further expansion with 13 tanks of total capacity 305K m³ for Fuel Oil and Crude Oil and also examining accommodating a Floating Supply Regasification Unit (FSRU) at the jetty that will regasify LNG for the needs of the local market.
Because of confidentiality, it will only be mentioned that the Republic Of Cyprus as an important customer, keeping strategic stocks at the VTTV terminal, an information which is in the public domain.
VTT Vasiliko Ltd (A VTTI Group Company)
Oil Storage Terminal
75 Mari, 7736 Larnaca, Cyprus.
Tel: +357 24 257500
Fax: +357 24 333299