The UAE plans to double fuel oil storage facilities by 2012 at Fujairah, combining with a new crude pipeline to create an alternative energy export hub outside the Strait of Hormuz.
"At present there are 121 storage tanks representing approximately 3 million cubic metres of storage," said Mohammad Saeed Al Kindi, managing director of Fujairah Petroleum Products at a conference on Tuesday.
"By the end of 2012 we expect this to increase through private investment to 262 tanks, representing a total storage capacity of over 7 million barrels."
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