osmosis cannot fit even a small pbf in memory

Hi, I am working on optimizing the process of converting pbf files to Postgres ingestion files with osmosis --write-pgsql-dump. In my case, Osmosis cannot complete the writing of dump files for Europe even in 5 days so I was looking for different options to speed it up and I found the nodeLocationStoreType=InMemory parameter which will read the nodes in memory and thus speed up the process significantly. However, it seems that this is not possible even with a small pbf for Albania for example (43MB) with a machine with 64GB of ram. I get an OutofmemoryError: Java heap space and I have allocated 55GB RAM to JVM with JAVACMD_OPTIONS="-Xmx55G". I don't understand how is this possible and if I am missing something. The command that i use is: osmosis -v --read-pbf-fast file="albania-latest.osm.pbf" --log-progress interval=60 --used-node --write-pgsql-dump enableBboxBuilder=yes enableLinestringBuilder=yes directory=/home keepInvalidWays=no nodeLocationStoreType=InMemory