New life for underground storage tanks
Orkney Islands Council and Scapa Flow Asset Management Limited have signed an agreement providing access to the wartime oil tanks at Lyness, off the North coast of Scotland.
SFAML is planning initial feasibility work, which could ultimately lead to the underground tanks being brought back into use as a fuel base.
Following the signing of the Memorandum of Understanding, the company will explore the potential for the Wee Fea underground storage tanks in Lyness to be utilised for the storage and distribution of low sulphur marine gas oil.
David Moir, Managing Director of SFAML, said: ‘’The strategic location of wartime tanks, their large storage capacity, and the adjacent natural harbour of Scapa Flow potentially add up to a turn-key solution for a project of this kind.
“We will be looking to see if the tanks could be used for the storage and distribution of low sulphur marine gas oil to the north Atlantic region and the north of Scotland.
“We aim to commence the initial due diligence process in the next few weeks. Bearing in mind that the tanks have not been utilised commercially for over half a century, this will be potentially challenging.
“However, our initial investigations have led us to believe that this asset does have the potential to serve as a first class, strategically placed low sulphur fuel hub.”
By Jake Frith
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