About the Oiltanking MOGS Auction
Oiltanking MOGS will provide advanced notification to qualified customers for the auctioning of crude oil tank capacity at its Saldanha Bay South Africa facility via the proprietary Matrix Auction Platform.
What Is the Oiltanking MOGS Auction?
The auction provides a transparent, competitive platform for individual companies to bid on available tank storage capacity at the Oiltanking MOGS Saldanha Bay facility.
Qualified customers who complete the Matrix and Oiltanking MOGS documentation will be notified in advance of any pending auction.
Utilizing the Matrix Auction Platform, customers will be able to bid on term storage contracts for the exclusive use of a defined number of storage tanks for a defined time period.
MOGS Oil & Gas, Oiltanking GmbH and IDC South Africa have partnered to develop a world-class, efficient and commercially flexible facility, which will consist of nine 1.121 million-barrel in-ground crude-oil storage tanks.
Allows customers to manage their physical crude storage price risk
Reduces credit exposure for auction participants
Provides a means for Customers to acquire Storage in a transparent equitable manner
barrels of storage capacity sold
About the Oil Storage Facility
The deep-water Port of Saldanha Bay is strategically located on shipping routes between Asia, West Africa and North, Central and South America. All tanks will be inter-linked, allowing for efficient on-site blending of different crude oil API parameters.
The facility will be used by international customers to store, blend and transship crude oil for bulk building and balancing production and offtake as well as blending to meet international market requirements.