Romanian-French agreement to build an oil residue recycling plant in Constanta Port

Grup Servicii Petroliere (GSP), owned by Romanian businessman Gabriel Comanescu, and France-based Ecoslops sign the Letter of Intent (LOI) to explore the feasibility of establishing an oil residues recycling plant in Constanta Port, southeastern Romania, a press release informs on Thursday.

“Subject to a positive outcome of the feasibility study, Ecoslops and GSP will form a joint venture to implement the project, from building and managing the plant to selling its products. This latest development follows the successful implementation of industrial production at Ecoslops’ plant in the Port of Sinès, Portugal, and the first sale of marine fuel products and light bitumen,” the quoted document reads.

Located on the west coast of the Black Sea, the Port of Constanta is one of the main petroleum product distribution centers for Central and Eastern Europe, and is directly connected, via the Black Sea – Danube and Danube – Rhine major waterways, to the Port of Rotterdam, where GSP has a representative office.

“The Port of Constanta is ideally located, and GSP is the ideal partner to collaborate with on the development of this significant project, given their wealth of industrial experience and in-depth knowledge of the region,” Vincent Favier, CEO of Ecoslops, said in a statement.

The Petromidia Refinery, owned by KazMunayGas and Rompetrol, with an annual capacity of around 5 million tonnes, is also located in the vicinity of the Constanta. Once operational, this new plant could collect maritime transport oil residues from Bulgarian, Turkish, Ukrainian, Russian and Georgian ports, Ecoslops says.

Ecoslops has developed a unique technology to transform oil residues from shipping (slops and sludges) into new recycled marine fuels. The French investor aims to establish itself as major player in the treatment of marine hydrocarbon waste.