International liquids and bulk terminaling company Zenith Energy signed an agreement to acquire a liquids storage terminal facility in Amsterdam from BP Plc, the company said Feb. 2. Terms of the transaction were not disclosed.

Zenith will own the terminal by the end of first-quarter 2016, following a transition process. After transferring ownership to Zenith, BP will remain as a terminal customer.

The terminal assets are on the North Sea Canal in the Amsterdam, Rotterdam and Antwerp region, which has the largest concentration of refining capacity in Europe and one of the world’s largest refined product trading hubs.

The facility stores more than 6 million barrels of gasoline, ethanol, middle distillates, biodiesel, kerosene and LPG. There are blending capabilities, and connectivity for ocean vessels, inland waterways and trucks. Oceangoing tankers up to 135,000 tonnes, barges and ships have multiple berths.

There is room for expansion, Zenith said, adding that the terminal is also an approved delivery point for ICE gasoil futures contracts.

This acquisition furthers Zenith's geographic expansion, following its acquisition of the Bantry Bay terminal in West Cork, Ireland, from Phillips 66 in February 2015 and the startup of its new, multiproduct liquids terminal in Palermo, Colombia, which is a joint venture with Grupo Coremar.

Zenith Energy is based in Houston.