Fujairah, the world's second-largest bunkering port after Singapore, is estimated to have around 7 million cubic meters of crude storage capacity by 2012, from 3 million currently, said Tamer Masoud, harbour master at the port on the sidelines of an industry event.

"It will be a major energy hub, currently they have 137 tanks with capacity of 3 million and will rise to 276 tanks to hold 7 million," he added.