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Issue Contents


Volume 15, Issue 6
Published: October 29, 2019
A greener storage future

As sustainability firmly takes the spotlight across the globe, storage operators are embarking on initiatives to future proof their businesses by ensuring they remain a relevant part of the new energy supply chain. Amy McLellan reports

Against a backdrop of weekly climate strikes, mass arrests of Extinction Rebellion protestors, another record-breaking season of temperatures and increasingly dire warnings from climate scientists, no organisation can afford to ignore sustainability. Whether it’s banning plastic, sourcing sustainable products or improving workers’ rights, there’s increased pressure on companies to do the right thing and minimise the impact almost eight billion people are having on the planet.
No industry comes under more pressure than the oil industry. In September the annual industry shindig, the Oil & Money conference, now its 40th year, lost the sponsorship of the New York Times as both organisations were targeted by protest group Extinction Rebellion, which called the event a gathering of ‘swindlers, polluters and planetary
destroyers of epic proportions’. Other industry events, including the recent Offshore Europe Expo in Aberdeen, have been hit by ‘die ins’ staged by the group.
And it’s not just environmental activists that have the industry in their sights. Even investment managers are increasingly cautious about holding oil stocks given that income and profits could well shrink should governments increasingly prioritise low-carbon energy to meet UN-backed Paris agreement emissions goals to limit global temperature rise to 1.5 degrees.
As yet, however, ‘Big Oil’ is still backing, well, big oil, with investment remaining solid against a backdrop of geopolitical uncertainty. Carbon Tracker, a London-based not-for-profit think tank, highlights that the world’s largest listed oil and gas companies each spent at least 30% of their investment in 2018 on projects that are inconsistent with the IEA’s most ambitious low emissions pathway – heading for a 1.6˚C world. The report found projects already sanctioned by the oil and gas industry will take the world beyond a Paris-compliant 1.5˚C warming pathway and risk being stranded assets if governments around the world pursue policies that drastically shrink demand for carbon fuels.

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An energy storage frontrunner
Following First State Investment’s acquisition of Vopak’s former Amsterdam terminal, Evos Amsterdam is wellpositionedto become a frontrunner in current and new forms of energy storage & distribution The Evos Amsterdam terminal has significant potential to be one of the storage leaders in the global energy transition as well as cementing its position in the clean petroleum products market following its acquisition by First State Investment...
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The sustainable energy solution
Channoil Consulting’s Mark Waddington examines the future of sustainable fuels, EU Renewable Energy directives, supplier requirements and the impact this could have on the European storage sector As the world looks for more sustainable energy solutions, a big feature in the transition to sustainability will be biofuels...
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Fuelling the future
An innovative new carrier technology that makes hydrogen easier and safer to store, transport & distribute is the first step in facilitating global hydrogen supply to industrial energy sectors The role of renewable energies in reducing the environmental burden of global energy emissions has resulted in an increase in innovative technologies to unlock their full potential...
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A greener storage future
As sustainability firmly takes the spotlight across the globe, storage operators are embarking on initiatives to future proof their businesses by ensuring they remain a relevant part of the new energy supply chain...
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Decarbonising the EU economy
For those of you who are new to FETSA, it is the Federation of European Tank Storage Associations...
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Europe's LNG potential
North West Europe’s leading LNG hub continues to break records as a global supply glut results in increased throughput and loading activity In a few short years Gate Terminal has seen LNG activity surge considerably at its facility as global production capacity increases against growing interest in the environmentally friendly fuel product...
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Oil market vulnerabilities exposed
An attack on two oil facilities in the world’s largest crude oil exporting county sent shockwaves throughout oil markets and raised concerns about the vulnerability of the global supply chain...
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