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Equatorial Guinea sees oil storage operations end 2013 – posted by

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A file photo of  oil tanks at a refinery in China.  REUTERS/Stringer
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By Ed Stoddard and Wendell Roelf

CAPE TOWN (Reuters) – Construction of a proposed $690 million oil storage terminal in Equatorial Guinea is likely to start in the second half of next year and become operational by end-2013, the west African country’s oil minister said on Wednesday.

“We will expect by the second quarter of next year to have FID (final investment decision) and start construction in summer, with the plant operational by the end of 2013,” Gabriel Obiang Lima told Reuters on the sidelines of an African oil and gas conference.

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