Beirut, April 25, 2019 - Under the patronage of HE Mrs. Nada Boustani Khoury, Minister of Energy and Water, Total Liban and IPT announced today, during a ceremony held at Villa Linda Sursock, Ashrafieh, their strategic partnership that resulted in the establishment of a new company “Fuel Logistics Co. SAL” which specializes in the provision of logistics services and the supply of petroleum products. This partnership aims at enhancing the quality and service of the local fuel supply market and will play a significant contribution to the Oil and Gas sector.
“Total Liban is committed to providing the highest service quality to its customers. This partnership will further strengthen our service delivery to our customers through an enhanced supply chain network”, says Mr. Daniel Alvarez, Managing Director of Total Liban. Total Liban and IPT joined forces to establish the “Fuel Logistics Co. SAL” whose shares are equally held by both companies. This new synergy will reflect positively on the economy and the Oil and Gas sector in particular as it aims at enhancing the quality of imported petroleum products as well as HSEQ standards in oil storage terminals and logistics – key components of the petroleum supply chain.
“Total has been present in Lebanon for close to 70 years. Our partnership with IPT today demonstrates once again our strong commitment to Lebanon and to its growth” added Mr. Jean Papée, Vice-President, Middle East & East Asia, Marketing & Services Asia-Pacific – Middle East.
This strategic partnership between Total Liban and IPT is the result of many years of collaboration. Dr. Toni Issa, Vice-Chairman of IPT Group noted: “IPT has achieved remarkable growth in the Lebanese market over the past few years and is proud to collaborate with a leading international energy major like Total to further expand and grow our business together.” He also added that the similarities in strategy and responsible business practices between Total Liban and IPT were a key contributing factor to the formation of the “Fuel Logistics Co. SAL”.
