Stolthaven takes stake in Norwegian terminal
Stolthaven has taken a 20% stake in Norterminal, which is developing a major crude oil and gas storage terminal near Kirkenes in northern Norway, according to Hazardous Cargo Bulletin. The facility is designed to meet growing demand for storage capacity from upstream companies developing oil and gas resources in the Arctic and Barents Sea. The terminal is expected to be operational in 2018. A floating storage facility will be made available in the interim to enable transhipment of oil to ships serving refiners in western Europe.