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PENGERANG, March 16, 2015:

A supertanker has docked at a joint-venture terminal between Vopak and Dialog Group in Malaysia and will unload about one million barrels of Middle East crude, the companies said today.

The world’s largest independent storage company and its partner started operations at the first commercial crude oil tank farm in Southeast Asia this month.

Located in Pengerang, just across the Johor Strait from the Singapore trading hub, the site can hold 420,000 cubic meters of crude (2.6 million barrels) and also offers blending and distribution services.

BP has leased more than half of the storage space from Vopak, while Total will use the remainder, industry sources said earlier.

The crude oil storage facilities are part of a joint venture terminal between Vopak, Dialog Group and the state government of Johor.

When completed, the terminal will have a total capacity of 1.3 million cubic meters to store crude and oil products.

Oil pricing agency Platts said last week it was considering a proposal to reflect deliveries from the Pengerang terminal in its Singapore pricing assessments for middle distillates and gasoline.

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