Gunvor holds a 26% stake in the Ust-Luga Oil products terminal, of which it managed the construction from a greenfield project. It has a projected capacity of more than 30 million metric tons per annum and is considered to be the largest rail and ocean trans-shipment terminal in the world. Operations commenced with fuel oil trans-shipments in 2011.

The terminal produces a material stable earnings stream and significantly enhances our logistics capabilities for the transportation of refined petroleum products exported from eastern Europe. It is being further developed to provide additional flexibility for trans-shipping a range of light and dark products including ultra-heavy fuel oil.

The Gunvor Petroleum Antwerp refinery, which has been 100% owned by Gunvor since 2012, has been mothballed since late 2020, as a result of adverse macroeconomic effects on the European refining sector.

Terminal activities at the site continue, the land and existing units are being reviewed for future development opportunities.

Stargate Oil Terminal Rotterdam B.V. (“SOTR”) operates approximately 1.5 million m3 of liquid storage capacity for a mix of products including Crude Oil, LPG, Naphtha, Gasoline, Kerosene, Gasoil, VGO and Fuel Oil. SOTR is located in the deepest port of Europe (Europoort Rotterdam) and has excellent connections for product movement, with access to road, sea, and inland waterways, as well as a potential for rail transport.