VTTI announces that its 49% share in VNT will be acquired by the terminal’s majority shareholder Vitol.

The alignment of VTTI’s portfolio with strategic goals and vision has necessitated a change in VNT’s ownership, with the result that Vitol, which currently owns 51% of the terminal, will now take full ownership of Nafta Terminal (VNT) as unconditional merger clearance from the Latvian Competition Authority has been obtained.

VNT, which was one of the first four terminals integrated by VTTI after it was founded in 2006, is the largest and most technologically advanced oil and petroleum transshipment terminal in the Baltic states. A connection between East and West, the Latvian operation served as a catalyst for progress, driving innovation and delivering exceptional results within VTTI.

With its full acquisition by Vitol, VNT will embark on a new chapter of its journey. The transition presents exciting opportunities for synergy and innovation, combining the strengths and expertise of both entities.

VTTI is committed to conduct this transition process in a seamless manner, ensuring continuity and stability for all stakeholders. At all stages of the process and beyond, VNT will continue to demonstrate its high standards of safety, operational efficiency, and customer satisfaction. We would like to thank the VNT team for their exceptional work and professionalism.

About VTTI

VTTI is one of the world’s leading storage providers for energy and other essential products like chemicals. Located at major shipping crossroads and supply gateways, VTTI provides over 10 million cubic metres of storage capacity across five continents.

About Vitol

Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7.6 million barrels per day of crude oil and products, and charters circa 6,200 ship voyages every year.
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: 16 m m3 of storage globally, 500 k b/d of refining capacity, over 6,800 service stations and a growing portfolio of transitional and renewable energy assets.