AfrOil: Somaliland opens new storage terminal to serve Horn of Africa

The coastal city of Berbera is home to a new 80,000-tonne crude storage facility known as Dahabshiil Oil Storage Terminal (DOST) that will serve the Horn of Africa, The Star (Kenya) reports.

DOST was officially inaugurated by Somaliland President Muse Bihi, who described it as a symbol of progress and prosperity for Somaliland, which is seeking international recognition of its declaration of independence from Somalia.

Dahabshiil Group’s chairman Mohamed Duale was quoted by The Star as saying that the facility and “advancements in the port infrastructure and the establishment of new industries” in Somaliland would open up the Horn of Africa.

The storage facility is expected to ensure steady oil supplies, a key consideration for investors in the region, said Abdirashid Duale, Dahabshiil Group’s CEO. “This investment in oil and gas infrastructure yields tangible benefits for the region, improving livelihoods and reducing living costs associated with energy expenses. It will contribute to the region’s prosperity while fostering an environment conducive to business growth and lowering fuel costs,” he commented.