The Port Authority of Las Palmas and Minerva Combustibles Las Palmas, S.A. have signed a General Protocol of Action that reinforces the collaboration between both entities at a key moment for the growth of bunkering in the port of Las Palmas. The agreement is signed coinciding with the recent 15-year extension granted to Minerva’s concession, linked to a significant investment aimed at modernizing its hydrocarbon storage terminal. Attending the signing of the protocol, in addition to the president of the Port Authority of Las Palmas, Beatriz Calzada, were the director of Minerva Combustibles Las Palmas, Pablo Sansó, and the CEO of Minerva Bunkering, Tyler Williams Baron.
The document, which constitutes a non-binding agreement of intentions, aims to establish a cooperation framework that will allow the consolidation of the port of Las Palmas’ position as a strategic fuel supply hub in the Mid-Atlantic. The president of the Port Authority of Las Palmas, Beatriz Calzada, emphasized that “the extension of the concession and the new investments announced by Minerva confirm the company’s commitment to the port of Las Palmas at a time of strong growth in the bunkering sector globally.”
She added that “the Port of Las Palmas has been consolidating its position as an Atlantic reference in fuel supply for years and to maintain that leadership it is essential that the companies operating here continue to modernize their facilities, expand capacity and adapt to the new fuels demanded by the international market.” In addition to the 15-year extension approved by the board of directors on October 9th, the agreement is signed in a context of high activity in the fuel supply of the port of Las Palmas, which in 2024 exceeded 2.3 million tons and maintains an upward trend in 2025 driven by international traffic.
New terminal
Likewise, the representative of Minerva Bunkering also highlighted the company’s commitment to the port and its future evolution, stating that “for Minerva, Las Palmas is a fundamental enclave within our global network. The extension and the investment plan we are launching reflect our willingness to continue growing here and to accompany the port in its transition towards new fuels and operational standards. Our goal is to strengthen the service, expand capabilities and contribute to this port maintaining its leadership in Atlantic fuel supply.”
The General Protocol of Action establishes a collaboration framework that will allow both parties to advance in a coordinated manner on strategic objectives. It includes promoting investments associated with the modernization of the current terminal; improving the competitiveness of the supply service and developing initiatives linked to new fuels and the energy transition. All these lines of work will be articulated through joint monitoring and will be adapted to the operational and energy needs of the sector.
The new extension is conditional on the execution of the basic project for infrastructure improvement and modernization of the storage terminal, which will involve a relevant investment and a substantial improvement in the efficiency and competitiveness of the service.
In turn, Minerva has reinforced its operational capabilities with the incorporation of the barge MT MARS, transferred from the Port of Singapore to meet the increased demand for supply in Las Palmas.
The company has also expressed its interest in promoting, in the medium term, the development of a new storage terminal linked to the new energy mix, in order to anticipate the future needs of the sector and contribute to the energy transition of maritime traffic. The protocol, which is valid for one year, opens a new stage in the relationship between the Port Authority of Las Palmas and Minerva, aligned with the transformation of the maritime energy sector and with the growing demand for bunkering services in the region. Both entities are thus advancing towards a more modern, sustainable, and competitive model, which will allow the strengthening of the Port of Las Palmas’s position on the international logistics map and anticipate the challenges that will shape the future of fuel supply.
