Africa is poised to add significant liquid storage capacity additions, accounting for about 12% of the global capacity additions by 2030. These capacity additions are underpinned by population growth, industrialisation, and economic development, leading to increasing consumption of refined petroleum products and chemicals. The region is also investing substantially in the enhancement of storage facilities for exports, to ensure energy security, and to manage oil supply fluctuations.
Uganda is set to dominate liquids storage capacity additions in Africa, due to the upcoming Buloba terminal, which is likely to have a storage capacity of 25.2 million barrels (mbbl). The planned terminal is vital for the country’s plans to store refined petroleum products. Situated strategically in the Wakiso district, the facility ensures consistent supply to the expansive Kampala market and other major consumption centres. The Uganda National Oil Company serves as the operator and holds a majority equity stake of 51% in the project.
Nigeria is expected to follow Uganda in terms of liquid storage capacity additions to meet growing demand for refined petroleum products domestically and for exports. Lagos is the major terminal in terms of capacity additions, which is likely to add a capacity of 6.3mbbl by 2030 through expansion. Dangote Oil Refinery is the operator, as well as total equity owner, of this crude oil and petroleum products terminal. Eghudu, Koko I, and Kula are some other major projects with significant liquid storage capacity additions during the outlook period.
Ghana stands third in terms of liquid storage capacity additions, with nearly 19.4mbbl of capacity expected to be added by 2030 through new-build projects. Among these, the Jomoro terminal accounts for most of the capacity additions and is expected to commence operations in 2028. The terminal is a vital component of Ghana’s Petroleum Hub Project, which aims to drive economic transformation through an integrated petroleum and petrochemical industry complex. Petroleum Hub Development is the operator, as well as total equity holder, of this terminal. Further analysis on global liquids storage terminals can be found in leading data and analytics company GlobalData’s new report, Liquids Storage Industry Capacity and Capital Expenditure Outlook by Region, Key Countries and Companies with All Operating and Planned Terminals to 2030.
“Uganda to lead Africa’s oil and gas liquids storage capacity additions by 2030” was originally created and published by Offshore Technology, a GlobalData owned brand.