Las Palmas, Spain (Canary Islands) | November 27, 2025 — Minerva Bunkering, one of the world’s leading independent marine fuel suppliers, has announced a major expansion of its operations in the Canary Islands following a signing ceremony at Las Palmas Port attended by CEO Tyler Baron and Pablo Sansó, Head of Sales for EMEA. The agreement cements Minerva’s long-term presence in the region through a three-pillar investment plan that significantly strengthens its Atlantic footprint.
- A 15-year extension of its existing terminal concession.
- The immediate deployment of the bunker barge MT Mars, boosting supply capacity in Las Palmas.
- A Letter of Intent with the Port Authority to explore development of a next-generation marine fuels terminal aligned with the global energy transition.
“These commitments further strengthen Minerva ability to provide safe, efficient, and competitive bunkering solutions while supporting the port’s growth and sustainability ambitions.”
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Future-Fuels Terminal at the Core of Energy Transition Strategy
The most forward-looking element of the agreement is the LOI to jointly pursue infrastructure designed for alternative fuels. The proposed terminal would equip Las Palmas to meet the evolving needs of global shipping as vessels transition to low- and zero-carbon options.
While that work begins, the addition of MT Mars delivers an immediate uplift in conventional fuel capacity—ensuring strong reliability for the heavy traffic crossing trans-Atlantic and regional routes.
Port Authority: Deal Strengthens Long-Term Bunkering Strategy
The Port Authority of Las Palmas (Puertos de Las Palmas) described the protocol signed with Minerva as a strategic milestone that consolidates the port’s bunkering leadership.
The Authority highlighted three direct benefits stemming from the agreement:
- Higher investment guaranteed by the concession extension.
- Operational upgrades, notably the new MT Mars barge.
- Foundations for future-proof infrastructure, including the alternative-fuels terminal under study.
The protocol sets a one-year framework for cooperation, dovetailing with the long-term 15-year concession extension.
Las Palmas: The Mid-Atlantic’s Refueling Station
Minerva Bunkering’s renewed commitment underscores the role of Las Palmas as one of the most important bunkering hubs in Spain and a critical refueling point in the Mid-Atlantic.
The Canary Islands sit at the crossroads of major routes linking Europe, Africa, and the Americas. The port accounted for roughly 23% of Spain’s total bunker sales in 2022, and its relevance has grown further as shipping lines reroute around the Red Sea, creating longer Atlantic passages.
Minerva’s investments in both new physical capacity and future-fuels infrastructure are designed to meet this sustained, high-volume demand.
Minerva Bunkering: Global Scale and Integrated Strength
With operational hubs in Geneva, Athens, New York, Singapore, Antwerp, and Las Palmas, Minerva delivers fuel solutions centered on efficiency, transparency, and environmental responsibility. Its integrated supply chain provides customers with end-to-end certainty from “refinery gate to ship flange.”
Strategic Foundation
- Established in 2014 within the Mercuria Energy Group, the world’s third-largest commodity trading firm.
- Access to over $25 billion in diversified financing.
- Major expansion through the 2019 acquisition of Aegean Marine Petroleum Network Inc., backed by more than $1 billion in capital investment.
- Operator of the industry’s largest dedicated bunkering asset portfolio, making it one of the most creditworthy players in the sector.
Global Operations
- Annual physical delivery capacity of 25 million metric tonnes.
- Trading presence in 150 ports and physical operations in more than 30 locations.
- Over 600+ customers served worldwide.
Physical Assets
- A fleet of 44+ vessels, including 35 owned—modern, double-hulled, and able to handle multiple fuel grades.
- More than 1.9 million cbm of dedicated storage capacity.
- Owned terminals in Fujairah and Las Palmas, and long-term capacity rights in hubs such as Tanger Med and Balboa (Panama).
Looking Ahead: Technology and Transition
Minerva is actively shaping the future of marine fuels through:
- Long-term LNG supply agreements and slops collection services.
- Investments in advanced metering, blockchain, and smart-contract technology to improve transparency and traceability.
- Beyond-core offerings including risk management, hedging strategies, and flexible financing packages.
Source: Minerva Bunkering