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Latest storage news


Technical News
November 7, 2019
Cloud & web services key to German petroleum industry
Common processes and standards are a core element of a seamless downstream supply chain in the oil and gas sector.Key industry participants of the German petroleum industry, including refinery and tank terminal operators, gathered at the 15th IFLEXX meeting in Bochum...

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Common processes and standards are a core element of a seamless downstream supply chain in the oil and gas sector.

Key industry participants of the German petroleum industry, including refinery and tank terminal operators, gathered at the 15th IFLEXX meeting in Bochum.

Focusing on what the future holds for the sector, attendees focused on innovative process integration options that go beyond the established standards IFLEXX and PIDX, such as cloud services.

It was agreed that enhanced process integration is a key piece of digital transformation and that the IFLEXX community needed to open up and embrace cloud solutions with the goal of broadening the range of interests and provide a forum for participants to learn about and discuss the latest innovations. It was also agreed that external experts should be invited to provide additional insight on certain topics.

Implico's Thomas Fahland said: 'Such a forum would give industry representatives the chance to discuss their requirements for future services directly with the providers.



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Terminal News
November 6, 2019
Hydrogen, LNG & renewable energy
The latest edition of Tank Storage Magazine contains articles on hydrogen technology, the LNG potential as well as the energy transition.The October/November edition has a special focus on sustainability in storage and how terminals are reacting and responding to the energy transition...

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The latest edition of Tank Storage Magazine contains articles on hydrogen technology, the LNG potential as well as the energy transition.

The October/November edition has a special focus on sustainability in storage and how terminals are reacting and responding to the energy transition.

Our top five must-read articles are:



A storage frontrunner

Evos Amsterdam reveals how it intends to keep pace with the energy transition

Fuelling the future

An innovative technology is making hydrogen easier to store, transport & distribute

The sustainable energy solution

A closer look at the EU's Renewable Energy Directive, the future of sustainable fuels and the impact this could have on the European storage sector

A greener storage future

What initiatives are terminals introducing to future-proof their business?

Europe's LNG potential

An exclusive interview with Gate Terminals' managing director about the terminal's growth ambitions

To find out more about this edition and how to get a copy visit www.tankstoragemag.com/shop.



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Terminal News
November 6, 2019
Harvest Midstream starts construction on storage terminal & pipeline
Harvest Midstream Company has started construction work on the Ingleside Pipeline and Harvest Midway Terminal.The Ingleside Pipeline is a new 24-mile, 24-inch oil pipeline that will originate from the Harvest Midway Terminal and connect to multiple oil export terminals in the Ingleside area, including the Flint Hills Resources Ingleside Terminal as well as the South Texas Gateway Terminal being developed by Buckeye Partners...

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Harvest Midstream Company has started construction work on the Ingleside Pipeline and Harvest Midway Terminal.

The Ingleside Pipeline is a new 24-mile, 24-inch oil pipeline that will originate from the Harvest Midway Terminal and connect to multiple oil export terminals in the Ingleside area, including the Flint Hills Resources Ingleside Terminal as well as the South Texas Gateway Terminal being developed by Buckeye Partners.

The pipeline will also connect to multiple terminals in the Midway and Taft area. It will have a final capacity of 600,000 barrels per day, with up to 380,000 barrels per day supplied by the existing Harvest Eagle Ford Pipeline Systems.

Jason Rebrook, CEO of Harvest Midstream Company, says: 'Harvest has a strong history of expanding and improving our infrastructure to ensure access to safe and reliable transportation for our customers. This investment is an exciting opportunity for growth that will allow us to better serve our Eagle Ford customers in the Corpus Christi and Ingleside markets.'

The new terminal will have the capacity to store more than 10 million barrels. The initial buildout will include 200,000 barrels of crude oil storage as well as measurement and pumping infrastructure capable of 25,000 barrels per hour.

'The Harvest Midway Terminal is a great addition to our existing infrastructure in the Eagle Ford, providing additional storage, connectivity, and points of delivery for our customers,' says Sean Kolassa, president of Harvest Midstream Company.

'We look forward to providing the best service to our customers as we continue to expand our operations.'

The Ingleside Pipeline is expected to begin service at the end of the first quarter of 2020 and the Harvest Midway Terminal is projected to be in-service at the beginning of the fourth quarter of 2020.



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Terminal News
November 6, 2019
Odfjell Terminals reports stable financials
Odfjell's terminal division has reported an EBITDA of $6 million in its third quarter financials in line with the previous quarter.Odfjell Terminals US reported improved EBITDA mainly driven by lower allocated costs as a consequence of the closure of headquarters in Rotterdam...

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Odfjell's terminal division has reported an EBITDA of $6 million in its third quarter financials in line with the previous quarter.

Odfjell Terminals US reported improved EBITDA mainly driven by lower allocated costs as a consequence of the closure of headquarters in Rotterdam. Utilisation at the Houston terminal remained at 100% for the quarter and throughput was stable compared to the previous quarter.

During its third quarter, the company sold its 55% ownership in Odfjell Terminals Jiangyin for $46 million. The transaction resulted in a capital gain of $14 million and net cash proceeds of $21 million for Odfjell SE.

As part of Lindsay Goldberg's exist from Asia, Odfjell SE has said it may consider tagging along on a sale of its ownership in the terminals in China. The process will be concluded in the coming quarters.

In connection with Lindsay Goldberg's exit, Odfjell has reorganised its terminal division to reflect the current portfolio and governance requirements. As a result, Odfjell has moved its terminal division to Bergen and close Odfjell Terminal's previous headquarters in Rotterdam as well as its office in Singapore.

Odfjell SE reported an EBITDA of $51 million compared with $57 million in the second quarter of 2019.

Kristian Mørch, CEO of Odfjell SE, says: 'The third quarter was impacted by the usual seasonal slowdown in volumes while rates remained stable. Since then, the market has normalised and we are encouraged to see improvement in volumes and improved crude and product tanker markets, which should positively impact our markets going forward. We are further encouraged by ongoing improvement in contract rates and that customers are accepting pass-through of potentially higher bunker costs related to IMO 2020. We expect to report improved results in the fourth quarter.'



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Terminal News
November 6, 2019
Hyundai Oilbank leases oil storage in Vietnam
Hyundai Oilbank has leased oil storage in Ba Ria-Vung Tau in Vietnam to help boost its exports to Southeast Asia.The South Korean company says in a statement that it plans to use the storage facility, which has 200,000 barrels of fuel storage capacity, as its export hub to penetrate further into Southeast Asia through direct sales and geographical advantage...

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Hyundai Oilbank has leased oil storage in Ba Ria-Vung Tau in Vietnam to help boost its exports to Southeast Asia.

The South Korean company says in a statement that it plans to use the storage facility, which has 200,000 barrels of fuel storage capacity, as its export hub to penetrate further into Southeast Asia through direct sales and geographical advantage.

It aims to double its exports to Southeast Asia from about 300 million barrels and to export petrochemical and lube base oil products from 2021.

Southeast Asia's oil demand is expected to surpass 9 million barrels per day by 2040.



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Terminal News
November 5, 2019
Tidewater Midstream completes acquisition of Husky refinery
Tidewater Midstream and Infrastructure has acquired Husky Energy's light oil refinery at Prince George, British Columbia for $215 million.The 12 million barrels per day refinery predominantly produces low sulphur diesel and gasoline, in addition to other products, to supply the greater Prince George region...

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Tidewater Midstream and Infrastructure has acquired Husky Energy's light oil refinery at Prince George, British Columbia for $215 million.

The 12 million barrels per day refinery predominantly produces low sulphur diesel and gasoline, in addition to other products, to supply the greater Prince George region. The refinery has significant onsite storage capacity of more than one Mmbbl and flexible logistics with pipeline, rail and truck connectivity in place.

The Prince George region is generally in short supply of refined products. The refinery's location within the Prince George region makes it a crucial piece of infrastructure with a significant logistical advantage to address the demand for these products.

The acquisition includes an acquired inventory estimated at $62 million, primarily related to light oil feedstock, line fill and refined product in storage.

The acquisition provides improved future distributable cash flow per share which is expected to reduce the company's debt levels.

Tidewater has entered into a five-year offtake agreement with Husky for 90% of the nameplate capacity on diesel and gasoline volumes produced at the refinery. The offtake agreement reflects certain take-or-pay characteristics relating to committed volumes that Husky has agreed to purchase and contains pricing review mechanisms.



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Terminal News
November 4, 2019
Vopak grows chemical storage capacity in Belgium, Mexico & China
Vopak has announced plans to build a new chemical storage terminal in China and expand chemical capacity at its facilities in the Port of Antwerp and Mexico.In its third quarter financial update, the company says that it will develop a joint venture industrial terminal to provide storage and handling services for the chemical manufacturing plants in the Qinzhou Chemical Park in southwest China, together with Shanghai Huavi Group Investment and Guangxi Qinzhou Linhai Industrial Investment...

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Vopak has announced plans to build a new chemical storage terminal in China and expand chemical capacity at its facilities in the Port of Antwerp and Mexico.

In its third quarter financial update, the company says that it will develop a joint venture industrial terminal to provide storage and handling services for the chemical manufacturing plants in the Qinzhou Chemical Park in southwest China, together with Shanghai Huavi Group Investment and Guangxi Qinzhou Linhai Industrial Investment. This terminal, in which Vopak will hold a 51% share, will have an initial capacity of 290,000 m3 and is expected to be commissioned mid-2021.

Additionally, Vopak is also expanding chemical capacity at its existing facilities in Belgium and Mexico. It will expand Vopak Terminal Altamira in Mexico with 40,000 m3 for chemical products. The expansion will facilitate the growing import of chemical products in Mexico and is expected to be commissioned in the second half of 2021.

In Blegium, the company is investing in 50,000 m3 for stainless steel capacity for chemicals at the Vopak Terminal Linkeroever. The new tanks will be connected to the new jetty that is currently under construction. The jetty will have two berths and will be suitable for vessels up to 80,000 DwT. Monoethylene Glycol, among other products, will be stored in the new tanks. The port hosts one of the main industrial chemical clusters in Western Europe and is a strategic location for Vopak. The company has close to 800,000 m3 of independent storage capacity and is expanding its footprint. The additional capacity is expected to be commissioned in mid-2021.

The company reported an EBITDA of €625 million, an increase of €71 million compared to the third quarter 2018, reflecting good aggregate business performance, positive currency translation and positive IFRS. Its occupancy rates of 84% reflects planned temporary conversion activities related to IMO 2020 readiness and ongoing market conditions at oil hub terminals. Other market segments remained solid.

Looking ahead the company says that most of the fuel oil capacity conversion for IMO 2020 have been delivered. Its efficiency programme, which aims to deliver targeted cost level of €676 million for 2019 is expected to be outperformed.

Vopak will continue to invest in the growth of its global terminal portfolio in 2020 and beyond with growth investment for 2020 that could be in the range of €300 million to €500 million, subject to developments in the business environment.



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Terminal News
November 4, 2019
Saudi Aramco to proceed with IPO
Manifa oil field
Saudi Aramco has said it plans to proceed with its initial public offering (IPO) by announcing its intention to float on the main market of Tadawul.News report suggest that it could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil...

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Manifa oil field

Saudi Aramco has said it plans to proceed with its initial public offering (IPO) by announcing its intention to float on the main market of Tadawul.

News report suggest that it could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil.

However, the announcement by Aramco offers little detail on the number of shares to be sold, pricing or the date for a launch.

According to Reuters, valuations for the company vary by more than $1 trillion, according to fund managers who have seen banks' research.

Amin Nasser, president and CEO of Saudi Aramco, says in a statement: 'Saudi Aramco's vision is to be the world's pre-eminent integrated energy and chemicals company. Over the last three years, we were responsible for one in every eight barrels of crude oil produced globally and our proved liquids reserves, at the end of 2018, were five-times larger than the combined proved liquid reserves of the five major IOCs.

'Building on our position among the world's least carbon intense sources of crude oil, Saudi Aramco aims to grow its business sustainability by leveraging technology and innovation to lower our climate impact.

'With a comprehensive and disciplined process for capital expenditures, we seek to maintain a prudent and flexible balance sheet. Our approach delivered higher operating cash flow, higher free cash flow, higher EBIT, higher EBITDA and higher ROACE than each of the five major IOCs in 2018G. We are proud of our many achievements over nearly nine decades and are excited about the prospects ahead.'



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Terminal News
November 4, 2019
IFM Investors complete Buckeye acquisition
IFM Investors has completed the acquisition of Buckeye Partners, adding one of the largest diversified networks of integrated midstream assets to IFM's energy infrastructure investments portfolio.Buckeye's assets include 6,000 miles of pipeline, with more than 100 delivery locations and 115 liquid petroleum products storage terminals with aggregate capacity of more than 118 million barrels...

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IFM Investors has completed the acquisition of Buckeye Partners, adding one of the largest diversified networks of integrated midstream assets to IFM's energy infrastructure investments portfolio.

Buckeye's assets include 6,000 miles of pipeline, with more than 100 delivery locations and 115 liquid petroleum products storage terminals with aggregate capacity of more than 118 million barrels. Additionally, Buckeye comprises a network of marine terminals located primarily in the East and Gulf Coast regions of the US as well as in the Caribbean.

The acquisition is aligned with IFM's focus on investing in high-quality, essential infrastructure assets that underpin the economies in which they operate.

Jamie Cemm, executive director for IFM, says: 'Buckeye represents a natural extension of IFM's expertise in investing in, operating and growing essential midstream energy infrastructure in North America. Buckeye is a great company with a rich history, and we look forward to steering the team and company through the next phase of the US and global energy evolution.'

Under the terms of the merger agreement, a wholly owned subsidiary of the IFM Global Infrastructure Fund, advised by IFM merged with an into Buckeye, with Buckeye surviving the merger as a wholly owned subsidiary of the fund.

'The completion of this transaction marks a significant milestone in Buckeye's 133-year history,' says Clark Smith, president and CEO of Buckeye. 'This ownership structure will provide Buckeye with superior access to capital to execute on its long-term business strategy, and we look forward to working with IFM during this next chapter in Buckeye's story.'



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Terminal News
October 31, 2019
Oiltanking Deutschland sells Deggendorf tank terminal
Oiltanking Deutschland is selling its Deggendorf tank terminal to Sailer Mineralölhandel, a wholly-owned subsidiary of Friedrich Scharr.Oiltanking says that its has decided to no longer operate the tank terminal it acquired in 2013 for strategic reasons...

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Oiltanking Deutschland is selling its Deggendorf tank terminal to Sailer Mineralölhandel, a wholly-owned subsidiary of Friedrich Scharr.

Oiltanking says that its has decided to no longer operate the tank terminal it acquired in 2013 for strategic reasons. The sale to the Scharr Group, effective December 1, which has a strong presence in Bavaria, secures the future of the site.

Sailer Mineralölhandel will continue the tank terminal operation in Deggendorf with the current seven employees as well as the previous handling and contractual partners. In addition to its previous trading activities via its own tank terminal in Augsburg, Sailer also plans to offer various heating oil and diesel qualities to the regional mineral oil trade in the catchment area of the Deggendorf terminal.

Thanks to a sufficiently large number of tanks, the location on the Danube offers good conditions for this, so that the company is convinced that it will be able to increase the throughput of mineral oil in Deggendorf in the medium term.



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Terminal News
October 30, 2019
India to lease strategic storage to Saudi Aramco
India will lease a quarter of its strategic petroleum reserves to Saudi Aramco to store 4.6 million barrels of oil.The agreement between Saudi Aramco and the government's oil storage company Indian Strategic Petroleum Reserves, concerns the company's Padur storage facility in Karnataka, and taking one of four storage compartments...

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India will lease a quarter of its strategic petroleum reserves to Saudi Aramco to store 4.6 million barrels of oil.

The agreement between Saudi Aramco and the government's oil storage company Indian Strategic Petroleum Reserves, concerns the company's Padur storage facility in Karnataka, and taking one of four storage compartments.

The UAE has also contributed to strategic reserves in India. The Middle East unit of Indian Oil signed a preliminary deal with Saudi Arabi's Al Jeri Transport Company for cooperation in the downstream sector.

According to local news reports, Saudi Aramco is currently evaluating its Indian investments and thinks that buying the government's stake in Bharat Petroleum as a good opportunity.



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Terminal News
October 30, 2019
PV Gas starts construction on LNG terminal
Construction work has started on PetroVietnam Gas' LNG Thi Vai terminal project, which will have a throughput capacity of one million tonnes per annum in the first phase.The terminal project will be built in two phases, with the first expected to be complete in 2022...

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Construction work has started on PetroVietnam Gas' LNG Thi Vai terminal project, which will have a throughput capacity of one million tonnes per annum in the first phase.

The terminal project will be built in two phases, with the first expected to be complete in 2022. The second phase, with a capacity of three million tonnes of LNG per year is expected to be complete in 20203. The terminal will be able to receive LNG vessels of up to 85,000 tonnes.

The first phase, which has committed investment of more than $285 million, comprises LNG tanks of 180,000 m3 as well as associated equipment. Once operational it will supplement the supply of 1.4 billion m3 of gas to customers including Nhon Trach 3 and 4 power plants and industrial customers. It will help to partially offset the shortage of gas in the country after 2022.

It will also contribute to ensuring gas and electricity demand for the key economic region in the Southeast.

In a statement, the company says that the facility will be an important link in providing renewable gas for consumers, including the power plants. Together with LNG Son My import terminal, with a total expected capacity of up to 10 million tonnes per year, the energy demand for the Southeast region will be met.

The terminal is being designed and constructed by contractors from Japan, Korea and the UK.

Speaking at a groundbreaking ceremony, Tran Sy Thang, PetroVietnam's chairman of the board of directors, said that it is the first LNG project in Vietnam with special significance in the oil and gas industry. As one of the leading players in the gas field, PV Gas will be responsible for maintaining the leading role in the gas industry and the LNG sector.



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Terminal News
October 30, 2019
Zhonghua Gas & Shanghai Jiulian to form JV to explore LNG markets
Zhonghua Gas & Shanghai Jiulian Group have signed a MoU to form a joint venture to co-explore end user markets in the Yangtze River Delta region.The joint venture will be principally focused in the sale of LNG, LPG, engineering of LNG pipelines, sale, installation, maintenance of LNG delivery equipment amongst other areas...

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Zhonghua Gas & Shanghai Jiulian Group have signed a MoU to form a joint venture to co-explore end user markets in the Yangtze River Delta region.

The joint venture will be principally focused in the sale of LNG, LPG, engineering of LNG pipelines, sale, installation, maintenance of LNG delivery equipment amongst other areas.

Zhonghua Gas intends to integrate the gas supply business of its existing customer resources in the Yangtze River Delta, such as existing point-to-point supply of LNG, decentralised energy, direct supply of industrial LNG, vehicle and ship refueling into the LNG sales channel and business of the joint venture, and constantly expand the business scope of the joint venture.

Additionally, it will also look to obtain the qualification, license, permits, and approval for the joint venture to be engaged in LNG storage and transportation.

Shenergy Jiulian will guarantee the stability of LNG supply.



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Terminal News
October 28, 2019
Sempra Energy & Mitsui sign MoU for North American LNG projects
Sempra Energy has signed an MoU with Mitsui & Co concerning Mitsui's participation in the Cameron LNG Phase 2 project in Louisiana and a future expansion of the Energía Costa Azul project in Baja California, Mexico.The non-binding MoU covers the continued mutual support for the development of Cameron LNG Phase 2, including Mitsui's purchase of up to one-third of the available capacity of the project, as well as the potential offtake of one million tonnes per annum of LNG and equity participation in a future expansion of ECA LNG...

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Sempra Energy has signed an MoU with Mitsui & Co concerning Mitsui's participation in the Cameron LNG Phase 2 project in Louisiana and a future expansion of the Energía Costa Azul project in Baja California, Mexico.

The non-binding MoU covers the continued mutual support for the development of Cameron LNG Phase 2, including Mitsui's purchase of up to one-third of the available capacity of the project, as well as the potential offtake of one million tonnes per annum of LNG and equity participation in a future expansion of ECA LNG.

ECA is being developed with IEnova, Sempra's subsidiary in Mexico. Phase 1 of the project includes one liquefaction train with an export capacity of 2.4 Mtpa. ECA LNG's future expansion would include additional trains with an expected export capacity of 12 Mtpa.

Train 1 of the Cameron LNG Phase 1 project started commercial operations in August 2019. Trains 2 and 3 are expected to begin LNG production in the first and second quarter of 2020 respectively. Cameron LNG Phase 2, which has all the necessary permits from the FERC, encompasses up to two additional LNG storage tanks.

Justin Bird, president of Sempra LNG, says: 'This agreement signals continued momentum in the growing US LNG export market, while reinforcing the unique competitive advantage that Sempra offers customers seeking LNG export capabilities from the Gulf Coast, as well as the West Coast of North America. We are pleased to expand our relationship with Mitsui and advance the development of both LNG projects.'



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Terminal News
October 28, 2019
European Commission approves €130 million LNG terminal expansion
The European Commission has approved a €130 million investment from the European Regional Development Fund to expand an LNG terminal in Świnoujście, northwest Poland.The project will increase the terminal's capacity to convert LNG into its gaseous form, store it, and ensure that it can be easily transported...

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The European Commission has approved a €130 million investment from the European Regional Development Fund to expand an LNG terminal in Świnoujście, northwest Poland.

The project will increase the terminal's capacity to convert LNG into its gaseous form, store it, and ensure that it can be easily transported. The funding was possible due to an important regional dimension of the project.

Product from the terminal will be transported through the newly constructed interconnectors to other countries including the Baltic States, Slovakia, Czechia and Ukraine.

Maroš Šefčovič, vice president for Energy Union, says: 'I applaud Poland's commitment to diversification policy that lies at the centre of our energy union strategy. It is yet another key step in strengthening security of supply of entire Central and South Eastern Europe, increasing competition on the regional gas market and providing industry as well as households with secure, reliable and affordable energy.'

The development of the terminal is part of ongoing efforts to achieve energy independence and the EU's climate goals.



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Terminal News
October 25, 2019
Australian Industrial Energy to increase LNG cargos at Port Kembla terminal
Australian Industrial Energy is seeking to increase the amount of annual LNG cargos received at its Port Kembla Gas Terminal as a result of fluctuating demand.AIE has lodged a modification to its existing development consent to meet higher demand for natural gas during the peak periods between April and September...

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Australian Industrial Energy is seeking to increase the amount of annual LNG cargos received at its Port Kembla Gas Terminal as a result of fluctuating demand.

AIE has lodged a modification to its existing development consent to meet higher demand for natural gas during the peak periods between April and September. Currently, AIE's customers gas demands during peak season exceed the volume approved in the current consent granted by NSW Department of Planning.

AIE wants to increase the cargoes received from 26 shipments of standard-sized vessels (170,000 m3) up to 46 shipments of variable sized vessels to reflect the variability in demand. The increase of up to 20 shipments represents a 2% increase in the number of vessels that visit Port Kembla each year. The projects FSRU, which remains moored at Port Kembla's berth 101 to receive, store and send out natural gas, will not need to be modified as it has the capacity to handle the extra throughput.

AIE says the request for additional volume reinforces the project's critical importance as a solution to the nation's near-term gas supply challenges.



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