Živković Samardžić representing Oiltanking, the second-largest operator of tank terminals worldwide

by ZS Law

Živković Samardžić is representing Oiltanking, the second-largest independent operator of tank terminals for petroleum products, liquid chemicals and gases worldwide, that is entering Serbian market via a joint venture with Serbian Public Enterprise Transnafta Pančevo.

On 20 February 2014, Oiltanking has signed a Memorandum of Understanding on strategic partnership with the Republic of Serbia on the EUR 50 million worth construction of storage facilities, storage and management of Serbian emergency stocks of oil and petroleum products and establishment of a joint company with Serbian Public Enterprise Transnafta Pančevo.

On behalf of the Serbian Government, Memorandum of Understanding was signed by the Minister of Energy, Development and Environmental Protection, Ms. Zorana Mihajlović. Minister Mihajlović stated that Serbia can currently store 716,000 cubic meters of oil and requires another 250,000 cubic meters of storage space by 2023.

Oiltanking, a Marquard & Bahls subsidiary, owns and operates 75 tank terminals in 23 countries in Europe, North and South America, as well as in the Middle East, India and Asia with a total capacity of 23.1 million cubic meters.

Marquard & Bahls is a German based Global 500 corporation that is successfully operating in the international oil and energy business for 65 years.

Živković Samardžić is one of the Serbia’s leading full-service independent law firms, with Corporate, Construction and Regulatory teams seasoned by large-scale projects in the Energy sector. Partners Branislav Živković and Uroš Đorđević are leading the team representing Oiltanking.


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