Dhahran, Saudi Arabia – Aramco Trading Company has signed an agreement with Klesch Group, an international industrial commodities group, for the exclusive supply of feedstocks for its Kalundborg Refinery in Denmark.
Klesch Group completed the acquisition of Equinor Refining in Denmark on December 31, 2021, consisting of the Kalundborg refinery, including a terminal in the northwest of Zealand, the Hedehusene terminal near Copenhagen, as well as associated infrastructure and industrial property.
The deal allows ATC to exclusively supply 110MBD of crude with a trading opportunity for Arabian crude placement and third-party crude and condensate and with a provision for refined products offtake.
This deal also gives Aramco a strategic footprint in the refining business in North-West Europe (NWE), a fast-growing and under-served market.
It will support Northern Europe’s energy requirements and give ATC the ability to supply its customers in the EU from regional capacity.
“I am delighted to note that this transaction will give ATC (Aramco) direct access to the refining system in Europe. Hence, this will also pave the way for creating a framework that will allow similar transactions in Europe and other parts of the energy map,” Ibrahim Al Buainain, President and CEO of Aramco Trading, said.
Aramco Trading Company (ATC) is the trading arm of Saudi Aramco that trades crude, refined products, LNG and LPG, blending components, bulk petrochemicals, and polyolefins.
To reach out to a wider customer base and to maximize trading opportunities, Aramco Trading strategically maintains storage and blending facilities in major trading hubs, customizing product specs to meet customer demand.
ATC now has four global offices in Dhahran, Fujairah, London, and Singapore to support this integration model. With our growing geographical reach, Aramco Trading has broader access to markets, a wider client base, a diversified workforce, and a more sophisticated and integrated global business model.
Today, the company is recognized globally as a critical trading partner for refiners, shipping companies, financial institutions, end-users, and other product-trading companies.
Rakan Al Mansour
Corporate Affairs Manager
Tel. Nos.: +966 (13) 880-1001
© Press Release 2022
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