Vopak acquires stake in EemsEnergyTerminal

Oil&Gas

The Netherlands – Vopak will own fifty percent of the EemsEnergyTerminal. In order to accomplish this, Gasunie and Vopak inked a preliminary agreement. At the latest, the agreement must go into effect on October 1, 2023.

More than six months have passed since the EemsEnergyTerminal LNG import terminal in Eemshaven was put into operation. The floating terminal has an annual capacity to regasify 8 billion cubic metres of LNG. The partners are looking into the viability of expansion.

Gasunie and Vopak are combining their experience and skills in the area of storage and LNG through the agreement. With the arrangement, Gasunie believes that it will be in a better position to establish a green hydrogen import structure in the future. Vopak says it wants to expand its LNG business.

GATE Terminal

In Rotterdam’s Gate terminal, Vopak and Gasunie are already coworkers. This terminal, which has been in operation since 2011, has a regasification capacity of 16 billion cubic metres. A fourth storage tank and 4 billion cubic metres of extra regasification capacity will be added to the Gate terminal. The parties will decide on a final investment decision in September 2023 as a result.

Hong Kong

Moreover, Vopak says it won’t go through with buying 49.99 percent of the stock in the MOL business unit that controls a floating storage and regasification facility (FSRU). This FSRU LNG terminal in Hong Kong was delivered by Vopak in partnership with MOL. This year was meant to be the beginning. The corporation now claims that the project’s delay has reduced participation’s economic appeal.

In its update, Vopak states that it has set aside one billion euros for LNG-related initiatives through 2030. It also has a billion euros in expansion capital set aside for clean raw materials and innovative sources of energy.

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