Tank Storage Association Cautious on EU's Approval of Brexit

Laxman Pai
Monday, November 26, 2018

European Union (EU) leaders approved the agreement on the UK’s withdrawal and future relations with the EU.

Tank Storage Association (TSA) recognises that the agreement still needs to go through the UK Parliamentary process before it is approved, but cautiously welcome this positive progress.  

Tha association said that it is essential for TSA members to ensure access to as frictionless a border with the EU and the Rest of World (RoW) as possible following the 29th of March 2019. "We do not believe this is possible without a deal in place," it said.

If the UK Parliament approves the deal on the 12th December, there will be a significant amount of work required during the transition period to finalise the details of our trading relationship.  

"We have highlighted several areas with UK Government where detailed discussion and analysis is required. We also recognise that freedom to negotiate the UK’s own trade deals following BREXIT may introduce opportunities for business," it said.

TSA stated: "We seek to ensure a frictionless efficient movement of goods and services in and out of the UK, with zero tariffs (where appropriate) and no delays at the point of import / export."

It is critically important to work with industry to understand any unintended consequences of changes to trade arrangements and customs policy.  "To this end we stand ready to work with Government to ensure the very best outcome," the statement concluded.

The TSA represents the interests of 50 member companies engaged in the storage of bulk liquids and the provision of products and services to the sector.  Collectively members operate over 300 terminals and distribution hubs in the UK and have over 8.5 million cubic metres of storage capacity in the United Kingdom (UK) and Republic of Ireland (ROI).

Categories: Tankers Oil Gas Tanker Storage

Related Stories

Global OTEC Presents OTEC Power Module for Remote Offshore Platforms

TotalEnergies Inks 15-Year LNG Supply Deal with China’s Sinopec

Shelf Drilling Secures $200M Contract Extensions with Chevron for Thailand Ops

Fugro Names Annabelle Vos Director for Middle East & India

CNOOC Kicks Off Production from Bohai Bay Field

CNOOC Starts Production from Deepwater Gas Project in South China Sea

Shelf Drilling to Consolidate Jack-Up Fleet and Resolve Funding Gaps via Triangular Merger

CNOOC Brings Online Another South China Sea Field

SLB, Palo Alto Networks Expand Cyber Connection

Environmental Group Backs Out of Scarborough Litigation

Current News

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

TotalEnergies and Oil India to Jointly Tackle Methane Emissions Issues

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Global Offshore Wind Stumbles to the End of '24

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

Global OTEC Presents OTEC Power Module for Remote Offshore Platforms

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com