Limassol port positioned as key oil and gas service centre

DP World Limassol, the port management company of Limassol port, is positioning itself as the ideal service centre for the region’s burgeoning oil and gas operations, according to CEO Simon Pitout.

In a recently published piece of analysis, Pitout highlighted Cyprus’ strategic location at the crossroads of Europe, Africa, and the Middle East, making it poised to become a vital energy hub.

Pitout emphasised Cyprus’ significant natural gas discoveries, estimated at 12-15 trillion cubic feet in its Exclusive Economic Zone (EEZ), along with the nation’s plans to strengthen energy collaborations with Greece, Israel, and Egypt, as key factors underpinning the island’s potential in the energy sector.

“Operating the only terminal in Limassol port that offers exclusive integrated operations for the energy sector, DP World is a significant driver of growth for the energy and maritime sectors, as well as the island’s economy,” he said.

What is more, Pitout noted the increasing attention in Cyprus to virtual pipelines for natural gas transfer and the European Union’s support for LNG as a transition fuel.

“DP World delivers supply chain solutions for the energy industry that are more flexible, transparent, green, and cost-efficient,” Pitout said, noting that the company’s “highly customised solutions for the energy sector create value by providing flexible, transparent, and cost-effective services to our clients, with an emphasis on the transition to green alternatives”.

“Our logistics solutions support the development and production phases of the energy lifecycle, primarily to and from offshore fields,” he added.

Moreover, he noted that the company’s multipurpose terminal features integrated logistics services and dedicated areas for supply and service companies. The company, he explained, also provides dedicated berths for oil and gas activities to ensure seamless operations and efficient supply chain management.

“We are also working with key partners, actively integrating fabrication services, warehousing, shore base support and marine services for our energy sector customers,” he stated.

In addition, Pitout mentioned that “DP World Limassol has invested in assets and personnel expertise to facilitate mobilisation and demobilisation operations, allowing for smooth transitions and minimised downtime”.

“Our open bonded areas and covered storage/warehouses provide secure and efficient storage solutions for customers’ valuable assets,” he added.

Furthermore, he explained that the company’s dedicated office space and drilling fluid production facilities support the diverse needs of the industry.

It should be noted that DP World Limassol has already supported prominent energy sector giants like Exxon, ENI, and Total during exploration phases in Cyprus’ Exclusive Economic Zone, as well as logistics for projects in the wider region, such as Egypt’s Zohr and Israel’s Leviathan and Karish offshore fields.

Finally, Pitout expressed confidence in DP World Limassol’s ability to assist Cyprus in realising its ambitious goals, transforming it into a thriving energy hub.

“At DP World Limassol we are committed to fostering growth, driving innovation, and creating even more sustainable opportunities with our public sector and energy sector partners,” Pitout said.

“Together, we are building the platform for Cyprus to establish itself as a prominent player in the Mediterranean energy landscape,” he concluded.