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Zenith further expands into Europe with Shell’s Hamburg terminal acquisition

International liquid and bulk terminal firm Zenith Energy has agreed to acquire a liquids storage terminal facility in Hamburg, Germany from Royal Dutch Shell for an undisclosed amount.

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Author: PetrolPlaza Correspondent Daniel Infante Tuaño

This latest acquisition is Zenith’s third in Europe following the purchase of terminal in Amsterdam from BP in April 2016 and the Bantry Bay terminal in West Cork, Ireland from Phillips 66 in February 2015.

The Hamburg facility serves as a refined product import and blending terminal in North Germany with an expected storage capacity of over 3 million barrels for gasoline, diesel and jet fuel; inbound and outbound ocean vessel, barge, rail and truck; and pipeline connectivity in the Port of Hamburg.

Port of Hamburg is Germany's largest seaport and one of the world’s largest trading ports.

"This is a natural progression in our growth strategy and underscores our commitment to expand into key European markets,” said Jeffrey R. Armstrong, Chief Executive Officer of Zenith.

Shell will remain a significant customer of the terminal after the acquisition.

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