Global bunker supplier Peninsula has signed an agreement with Evos to develop biofuel storage infrastructure at the Port of Algeciras, aiming to boost its biofuel bunkering capacity in the Strait of Gibraltar.

IMAGE: View from the Rock of Gibraltar, UK to Algeciras, Spain. Getty Images

The agreement covers Dutch chemical storage firm Evos’ planned 60,000 cbm dedicated biofuel storage facility at its Algeciras terminal.

The facility will be fully allocated to Peninsula to help it expand biofuel bunkering in the region.

Evos has not reached final investment decision on the expansion project.

Under the partnership, the companies will discuss technical and commercial aspects of a long-term storage and handling agreement.

Evos will lead the project's development, including engineering, permitting and construction, while Peninsula will integrate the capacity into its global biofuels supply network.

“By partnering with Evos to build storage infrastructure, it allows us to control the quality of product and to blend biofuel ratios according to market demand,” Peninsula’s CEO John A. Bassadone said.

“It will also offer our customers full flexibility and optionality when lifting bio products from us and further demonstrates Peninsula’s active commitment to the decarbonisation of marine fuels,” Bassadone added.

By Nachiket Tekawade

Please get in touch with comments or additional info to news@engine.online