Vast Infraestrutura signs agreements for studies on storage project at Porto do Açu

Throughout 2023, Vast Infraestrutura signed four memorandum of undersanding (MoUs) with major oil and gas companies to carry out studies on oil storage at Porto do Açu, as part of its SPOT Project, which foresees the construction of the 1st private oil storage park in Brazil.

The agreements establish joint studies on storage opportunities, and other companies can still join the project, which involves a planned investment of R$2.5 billion. The project includes the construction of 12 tanks with a total capacity of 5.7 million barrels of oil and two pipelines that will connect Vast’s terminal to the oil pipeline network in the Southeast region of Brazil.

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“These agreements are another step in consolidating Vast Infraestrutura’s terminal as a hub for oil handling and exportation, allowing an expansion of its service offerings as a liquid logistics operator,” emphasizes Victor Snabaitis Bomfim, Vast’s CEO.

The news was highlighted in the Economy section of Estadão, a Brazilian newspaper. Click here and read the complete article to learn more about it.