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Oiltanking rebrands as ADVARIO Oman, announces push into green energy storage

Key strategy: ADVARIO Oman will be led by CEO Yasvin Buckhoreelall with the aim to drive growth in the energy storage sector while achieving Net-Zero by 2040
ADVARIO - Yasvin Buckhoreelall, CEO
ADVARIO - Yasvin Buckhoreelall, CEO

Omani-German joint venture Oiltanking Terminals Co LLC, which owns and operates world-class liquids storage terminal infrastructure at the Port of Sohar, has rebranded as ‘ADVARIO Oman’ as part of a new focus on green energy storage.

The rebranding came at an event held at the Kempinski Hotel Muscat on Wednesday, May 11, 2022, under the auspices of Thomas Schneider, the German Ambassador to the Sultanate of Oman.

The new carve-out company ADVARIO, derived from combining advancement, advantage and variability, represents a focus on growth in chemicals, gases and new energies. The rebranding coincides with the parent group’s 50th anniversary and mirrors the company’s forward-looking approach to taking a frontrunner role in the energy transition by ensuring safe and reliable storage infrastructure for sustainable liquids, officials said.

ADVARIO Oman will be led by Yasvin Buckhoreelall, CEO, with the aim to drive growth, value and sustainability in the energy storage sector while achieving Net-Zero by 2040, in line with the objectives for economic diversification, decarbonisation and sustainable operations.

As part of a global energy storage and logistics network with operating hubs in Belgium, China, Finland, Singapore and the United States, ADVARIO Oman is based at SOHAR Port and Freezone, which will play a vital role in achieving the objectives of Oman Vision 2040, that has highlighted the logistics sector as an area of high potential to enhance the economy. The Sultanate of Oman’s strategic location and energy goals provide the ideal environment to develop a diversified economy which will provide the foundation for long-term growth.

Yasvin Buckhoreelall, ADVARIO Oman CEO, said: “We are excited to launch the new brand which better represents the direction of this chapter in our company’s history. ADVARIO will build on the successes of 50 years in a leading global role in energy storage and logistics infrastructure by embracing a new era in energy and quickly establishing ADVARIO as a sustainability leader.”

As part of the restructure, Bas Verkooijen has been appointed ADVARIO Group CEO in Rotterdam, The Netherlands, and will be supported by Douglas van der Wiel, Claas Pinkenburg, Yvan Tavernier, Liz Mayhew and Sophie Challet as the leadership team, together with 1,200 employees worldwide. ADVARIO will continue its journey under the direction of a Supervisory Board, headed by Matti Lievonen of Oiltanking GmbH, in Hamburg, Germany.

Bas Verkooijen, Group CEO of ADVARIO, said: “We are convinced that only through highly ambitious ESG standards we will achieve ‘better business’ for our partners, society and ourselves. For me this means that besides ambitiously growing our business, an equally important priority will be to operate our business with the highest care for our people, the communities we work in and the environment we live in.”

He added: “The tank storage industry has a key role to play in enabling the energy transition as well as supply security. Today, we are making a bold step forward by launching – ADVARIO – our new company that will be focused on growth in petrochemicals, gases and new energies and puts sustainability at the heart of what we do.”

OQ SAOC, the global energy group of the Sultanate of Oman, has a 25-per cent stake in ADVARIO Oman.

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