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Wed 21 Sep 2016 08:14 PM

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UAE enhances global energy trade reputation with first VLCC berth

Energy minister hails opening of first berth for very large crude carriers in the Indian Ocean sea port of Fujairah

UAE enhances global energy trade reputation with first VLCC berth
(Photo for illustrative purposes only)

The inauguration of the UAE's first berth for very large crude carriers (VLCC) in the Indian Ocean sea port of Fujairah will improve the country's reputation as a key hub for global energy trade, according to Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy.

By opening of the largest VLCC facility in the Middle East, the UAE sets yet another record as the facility can receive oil tankers with a capacity of up to 260,000 tonnes (two million barrels) 24/7, the energy minister noted in comments published by news agency WAM.

The seaport has been in operation since 1983, but the new VLCC facility is expected to further establish the emirate of Fujairah and the UAE as key regional and global energy trade hubs.

"The strategic project highlights the UAE's position as a global energy hub as well as Fujairah's strategic location," Al Mazrouei said after Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, inaugurated VLCC-1 at the bunkering facility.

The project is a milestone in the course of comprehensive development being carried out to implement the UAE Vision 2021 and the UAE National Agenda, he was quoted as saying.

"Thanks to its leadership, the UAE will set an example for other states in the diversification of sources of income, integration between economic sectors and maximising capacity to boost economy and achieve sustainable development. This is especially so because such vital projects contribute towards development in this region and beyond," he said.

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