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Latest storage news


Terminal News
July 25, 2019
Total to develop Benin LNG floating terminal
Total, the Republic of Benin and Société Béninoise d'Energie Electrique have signed agreements to develop a LNG import floating terminal offshore of Benin.The agreements also cover the supply of up to 0.5 million tonnes per annum of regasified LNG from Total's global portfolio to Benin for 15 years, starting in 2021...

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Total, the Republic of Benin and Société Béninoise d'Energie Electrique have signed agreements to develop a LNG import floating terminal offshore of Benin.

The agreements also cover the supply of up to 0.5 million tonnes per annum of regasified LNG from Total's global portfolio to Benin for 15 years, starting in 2021.

Total will develop and operate the regasification infrastructure that will comprise a floating storage and re-gasification unit located offshore Benin and an offshore pipeline connection to the existing and planned power plants in Maria Gléta.

Laurent Vivier, senior vice president gas at Total, says: 'This project is in line with Total's strategy to develop new gas markets by unlocking access to LNG for fast-growing economies. We are very pleased to have been entrusted by the Benin authorities to develop LNG imports and support a broad adoption of natural gas in the country.

'Access to LNG will help Benin to meet growing domestic energy demand and add more natural gas to the country's current energy mix, hence reducing its carbon intensity.'

Dona Jean-Claude Houssou, minister of energy of Benin, says that the new 127 MV power station at Maria Gléta, with imported liquefied natural gas, on preferential terms and will position Benin as the crossroads for gas and electricity in the subregion.



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Terminal News
July 25, 2019
Fujairah: Oil product stocks up 1.6%
As of Monday, July 22 total oil product stocks in Fujairah stood at 19.379 million barrels, adding 307,000 barrels week on week. Overall product stocks rose by 1.6% with a large build in heavy distillate stocks and smaller draws in light and middle distillate stocks...

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As of Monday, July 22 total oil product stocks in Fujairah stood at 19.379 million barrels, adding 307,000 barrels week on week. Overall product stocks rose by 1.6% with a large build in heavy distillate stocks and smaller draws in light and middle distillate stocks.

Stocks of light distillates fell by 675,000 barrels reflecting a draw of 8.3% week on week. Total volumes stood at 7.483 million barrels. Gasoline markets in both the East and West eased as disruptions from Hurricane Barry to US Gulf Coast refining proved to be less than feared. The FOB Singapore 92 RON gasoline crack against front month ICE Brent crude futures fell to a three-week low of $5.52/b yesterday, S&P Global Platts data showed. However, premiums for Arab Gulf gasoline continued to rise amid news that the RFCC unit at Abu Dhabi's Ruwais Refinery West is to undergo maintenance and is currently offline, according to a ADNOC spokesman.

Stocks of middle distillates fell by 9.2%, subtracting 213,000 barrels to stand at 2.101 million barrels at the start of the week. Middle distillate sentiment remained positive in the East of Suez. Summer travel demand in Europe continued to bolster sentiment in the jet fuel market, while gasoil supply has so far proved less than expected. Traders also noted the ongoing tensions along the Strait of Hormuz could constrain the flow of product out of the Arab Gulf, with a knock-on effect on India and the rest of Asia. 'Even if there are no disruptions, there will be an impact, insurance for vessels loading jet in the [Arab] Gulf will be higher. Indian cargoes should all be going West,' said a Singapore-based trader.

Stocks of heavy distillates rebounded by 13.9%, building by 1.195 million barrels on the week to stand at 9.795 million barrels. Stocks fell to a four-month low last week, but bounced back to close to previous level. Bunker demand in Fujairah is holding up despite recent security concerns. Some ships are opting to bunker in Singapore instead, but lower prices have helped to keep Fujairah supported. 'Demand has been more due to high bunker premiums in Singapore and tightness there, but the war risk premiums are still taking a hit on things here,' said a Fujairah bunker supplier. The spread between 380 CST delivered bunker in Singapore and Fujairah was assessed at $15.75/mt yesterday, compared to over $30/mt a week ago.



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Terminal News
July 24, 2019
FERC creates new division amid surge in LNG terminal applications
The US Federal Energy Regulatory Commission has created a new division to accommodate the increasing number of new LNG export terminal applications.The new division, LNG facility review and inspection, will sit in its Office of Energy Projects and will comprise 20 existing LNG staff members and eight additional full-time staffers and will be based in Houston...

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The US Federal Energy Regulatory Commission has created a new division to accommodate the increasing number of new LNG export terminal applications.

The new division, LNG facility review and inspection, will sit in its Office of Energy Projects and will comprise 20 existing LNG staff members and eight additional full-time staffers and will be based in Houston.

FERC chairman Neil Chatterjee says: 'As the demand for US LNG and the number and complexity of project applications has grown, the commission has experienced a similar growth in the need for FERC to expand its oversight in this programme area.

'Much of the work related to these LNG projects, and the expertise it requires, is based in and around Houston, the so-called 'Energy Capital of the World'. For that reason, after careful research and evaluation, the commission has determined we should direct our newest efforts to recruiting staff in the area to build upon the good work already being done on these issues at our D.C. headquarters.

The creations of DLNG and expansion in Houston will help prepare FERC for the additional work necessary once LNG project applicants make final investment decisions and move toward construction.



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Terminal News
July 24, 2019
Gazprom brings new fuel terminal into operation
Gazprom has brought its new Gladkoye fuel terminal into production, the first to be built under the company's new terminal infrastructure development strategy.The facility in the Tosnensky District of the Leningrad Oblast, is unique in terms of its technological equipment and management processes...

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Gazprom has brought its new Gladkoye fuel terminal into production, the first to be built under the company's new terminal infrastructure development strategy.

The facility in the Tosnensky District of the Leningrad Oblast, is unique in terms of its technological equipment and management processes.

The terminal is the only fuel terminal in Russia equipped with metering facilities that allow oil products' volumes and metrics to be controlled automatically on receipt from rail tank cars and onward shipping by road, with all data on fuel transportation and movement being processed and transmitted through the Gazprom Neft Neftekontrol system online.

A digital twin of the terminal contains all information on the project since the start of its construction, allowing virtual access for the facility's management.

The facility can handle the transshipment of up to one million tonnes of oil products every year, with its terminal offering storage capacity for up to 40,000 m3 at any one time. Cutting-edge environmental protection strategies have been implemented at Gladkoye, including a vapour recovery system and treatment facilities.

All of the company's target terminals will be upgraded based on the Gladkoye model by 2025. Following the completion of its extensive terminal reconstruction programme, transshipment volumes through its own network are expected to increase by more than 20%, with average transshipment volumes per terminal increasing by 58%.

Alexander Dyukov, CEO and chairman of the management board at Gazprom Neft, says: 'This new terminal will become a major facility within Gazprom Neft's logistics system, ensuring stable supplies of high-quality oil products to the compnay's own filling stations, as well as to our clients throughout the north-west region. The innovative technologies used in building the Gladkoye terminal will be rolled out in modernising our terminals network, which we will be carrying out until 2025.'



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Terminal News
July 23, 2019
BP enters JV to create bioenergy powerhouse
BP and US agri-commodities company Bunge have formed a joint venture to create a biofuels powerhouse in Brazil.BP Bunge Bioenergia will have 11 biofuels sites and the production capacity of 32 million metric tonnes of sugarcane a year, making it the second largest plater in the surgarcane ethanol biofuel industry in Brazil...

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BP and US agri-commodities company Bunge have formed a joint venture to create a biofuels powerhouse in Brazil.

BP Bunge Bioenergia will have 11 biofuels sites and the production capacity of 32 million metric tonnes of sugarcane a year, making it the second largest plater in the surgarcane ethanol biofuel industry in Brazil.

The move positions the new company for growth in both biofuels and biopower.

Bob Dudley, group chief executive, says: 'This is another large-scale example of BP's commitment to play a leading role in a rapid transition to a low carbon future. Biofuels will be an essential part of delivering the energy transition and Brazil is leading the way in showing how they can be used at scale, reducing emissions from transport. This combination will unlock new possibilities for improved efficiency and future growth in this key market.'

Dev Sanyal, chief executive of BP Alternative Energy, adds: 'In one step, this will allow BP to significantly grow the scale of our business in one of the world's major growth biofuels markets. With a shared commitment to safety and sustainability, bringing together our assets and expertise will allow us to improve performance, develop options for growth and generate real value. BP Bunge Bioenergia will be well-placed to support Brazil's increasing demand for both low carbon biofuels and biopower.'

The deal will grow BP's existing biofuels business by more than 50% and better positions the business in a country already geared up for biofuels, with 70% of vehicles capable of running on ethanol.

New rules in Brazil coming into force in 2020 mandate additional sales, encourage market growth and support further development of the sugarcane ethanol industry.



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Terminal News
July 23, 2019
Construction work starts on Kinder Morgan expansion project
Material permits have been secured and building work has started on Kinder Morgan Canada's Vancouver Wharves terminal distillate storage expansion project.The C$43 million capital project in North Vancouver, British Columbia, comprises the construction of two new distillate tanks with a combined storage capacity of 200,000 barrels as well as enhancements to the railcar unloading capabilities...

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Material permits have been secured and building work has started on Kinder Morgan Canada's Vancouver Wharves terminal distillate storage expansion project.

The C$43 million capital project in North Vancouver, British Columbia, comprises the construction of two new distillate tanks with a combined storage capacity of 200,000 barrels as well as enhancements to the railcar unloading capabilities.

It is supported by a 20-year initial term, take-or-pay contract with an affiliate of a large, international integrated energy company.

The project is expected to be placed in service in late first quarter of 2021.

In the company's second quarter financials, Kinder Morgan's terminal segment earning were up due to an impairment taken in the second quarter of 2018. Segment earnings before this were down.

Kinder Morgan president Kim Dang says: 'In the liquids business, which accounts for nearly 80% of the segment total, increased contributions from expansion projects placed in service and higher throughput and ancillary contributions were more than offset by reduced volumes as well as off-hire times on its Jones Act tankers caused by Mississippi River closures due to historically high water levels, along with tank lease costs at the Edmonton South Terminal, paid pursuant to a lease agreement with Trans Mountain that become a third-party arrangement due to our sale of Tans Mountain.'

CEO Steve Kean adds: 'These are exciting times for Kinder Morgan, with booming US natural gas and oil production projects to grow more than 30% through 2030. Our North American footprint positions us extremely well in both the near and long term as a leading infrastructure provider for those and other essential energy products.'



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Terminal News
July 22, 2019
Iran seizes British-flagged tanker
Shipping tensions in the Middle East Gulf have ramped up after the Iranian Revolutionary Guard Corps seized a British-flagged vessel in the Strait of Hormuz.The IRG boarded MR2 product tanker Stena Impero on Friday, July 20 first claiming it had been involved in an accident...

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Shipping tensions in the Middle East Gulf have ramped up after the Iranian Revolutionary Guard Corps seized a British-flagged vessel in the Strait of Hormuz.

The IRG boarded MR2 product tanker Stena Impero on Friday, July 20 first claiming it had been involved in an accident. But subsequent reports have emerged claiming the group said that tanker 'failed to respect international maritime rules'.

On Friday, July 19 Stena Bulk and Northern Marine Management confirmed that the vessel was approached by unidentified small crafts and a helicopter during transit of the Strait of Hormuz while the vessel was in international waters. Shortly after the vessels suddenly deviated from her passage to Jubail and headed north towards Iran.

The company says that the vessel was in full compliance with all navigation and international regulations.

The 23 seafarers onboard, of Indian, Russian, Latvian and Filipino nationality, have been reported as being in 'good health'.

On Wednesday, June 24 Erik Hanell, president and CEO of Stena Bulk confirmed that the company have had direct communication with the crew and that everyone was safe with good cooperation with the Iranian personnel onboard.

Hanell says: 'We do of course appreciate this step of development and that this is a first sign that we will soon see more positive progress from the Iranian authorities.'

On Sunday, July 21, president and chief executive of Stena Bulk Erik Hanell confirmed that a formal request for permission to visit the 23 crew members of the vessel has been made to the authorities at the Port of Bandar Abbas.

'The request has been acknowledged, but we await a formal response. In the meantime, we will continue to co-operate and liaise with all appropriate authorities.'

UK Prime Minister Theresa May will chair a Cobra emergency committee meeting today (Monday, July 22) to formulate a response, which could result in sanctions being issued.

The Iranian Guardian Council said the seizure was in response to Britain seizing an Iranian tanker - Grace 1 - in Gibraltar.

The move further escalates tensions in the Middle Eat Gulf following the imposition of tighter US sanctions against Iran in May.



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Terminal News
July 18, 2019
FERC approves Kinder Morgan’s Gulf LNG project
The Federal Energy Regulatory Commission has given the green light to Kinder Morgan's Gulf LNG export project in Jackson County, Mississippi.The approval is for the construction and operation of facilities for the export of LNG at the existing import terminal operated by Kinder Morgan...

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The Federal Energy Regulatory Commission has given the green light to Kinder Morgan's Gulf LNG export project in Jackson County, Mississippi.

The approval is for the construction and operation of facilities for the export of LNG at the existing import terminal operated by Kinder Morgan.

The Gulf LNG site was originally developed as an LNG import terminal in 2009 but following record sale gas production, the company sought permission to redevelop part of the site as an export terminal.

The project will add 11.5 million metric tonnes of new capacity to the facility and includes two liquefaction plants. Additionally, the existing Gulf LNG Pipeline will be modified to allow for bidirectional flow.



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Terminal News
July 18, 2019
Fujairah: Oil product stocks decline by 1.5%
As of Monday, July 15 total oil product stocks in Fujairah stood at 19.067 million barrels falling 290,000 barrels week on week. Overall product stocks fell by 1.5% with a drawdown in heavy distillate stocks and builds in light and middle distillate stocks...

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As of Monday, July 15 total oil product stocks in Fujairah stood at 19.067 million barrels falling 290,000 barrels week on week. Overall product stocks fell by 1.5% with a drawdown in heavy distillate stocks and builds in light and middle distillate stocks.

Stocks of light distillates rose by 836,000 barrels reflecting a build of 11.4% week on week. Total volumes stood at 8.153 million barrels. Gasoline in both the East and West of Suez markets was finding support from strength in the US gasoline market which had risen sharply following Hurricane Barry making landfall in the US Gulf Coast. The 92 RON gasoline crack in Singapore against ICE Brent futures stood at $7.32/b on Tuesday, reflecting a rise of $1.05/b week on week.

Stocks of middle distillates rose by 6.4% adding 139,000 barrels to stand at 2.314 million barrels at the start of the week. East of Suez was seeing a mixed outlook for gasoil fundamentals with support seen from increased demand across South East Asia owing to run-cuts at refiners, while demand from China and India has remained lackluster.

Stocks of heavy distillates fell 12.8%, drawing down 1.265 million barrels on the week to stand at 8.6 million barrels, falling back to levels last seen around mid-March this year. A widening of the price spread between Singapore and Fujairah delivered bunker markets was leading to an uptick in demand at the Middle Eastern port. Singapore's bunker premium to Fujairah rallied to a $37/mt premium last Wednesday before narrowing slightly to stand at $34/mt on Tuesday. Fujairah 380 CST delivered bunkers were assessed at $418/mt Tuesday with Singapore 380 CST delivered bunkers assessed at $452/mt.



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Terminal News
July 17, 2019
Vopak Vlaardingen installs solar panels on tank roofs
Vopak Vlaardingen has installed flexible, thin and lightweights solar powerfoil solar panels on the roof of one of its storage tanks.The company is currently testing the solar powerfoil, along with insulation, to see how it can utilise different forms of renewable energy...

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Vopak Vlaardingen has installed flexible, thin and lightweights solar powerfoil solar panels on the roof of one of its storage tanks.

The company is currently testing the solar powerfoil, along with insulation, to see how it can utilise different forms of renewable energy.

If the test is successful, the storage operator plans to fit the solar film to other tank roofs and walls at the facility which mainly stores edible oils.

Ard Huisman, managing director of Vopak Vlaardingen, says: 'Large amounts of energy are needed to store and pump these products, because many edible oils are prone to congealing in our climate.

'As well as insulation, this solar powerfoil is one of the measures we are currently testing to see how we can further reduce our CO2 footprint.'

According to Michel Bresser, area manager and solar manager at the Port of Rotterdam Authority, an increasing number of companies are installing solar panels on roofs. 'Renewable energy such as wind and solar power is crucial in making the port more sustainable. That's why we think it is important that companies use solar power where possible.'



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Terminal News
July 17, 2019
HES Hartel Tank Terminal project takes shape
Picture credit: Paul Martens
Construction work at HES Hartel Tank Terminal is taking shape with the first building cranes in place for the construction of 54 tanks.In total there will be 22 building cranes for the construction of the tanks. Additionally, opposite this, preparations are underway at the BP terminal for 1km underground pipelines, which will connect both terminals once work is complete...

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Picture credit: Paul Martens

Construction work at HES Hartel Tank Terminal is taking shape with the first building cranes in place for the construction of 54 tanks.

In total there will be 22 building cranes for the construction of the tanks. Additionally, opposite this, preparations are underway at the BP terminal for 1km underground pipelines, which will connect both terminals once work is complete.

Work is also on schedule for the construction of the quay walls.

The terminal, located on Hartelstrook, on the south side of the Mississippihaven on the Maasvlakte, will store oil products and biofuels, with a capacity of 1.3 million m3.



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Terminal News
July 17, 2019
Tank Storage Asia conference programme revealed
Vopak, Stolthaven Terminals, Oiltanking Asia Pacific & Sembcorp Solar will be part of Tank Storage Asia's 2019 conference programme. Organised by Tank Storage Magazine, the two-day CPD-certified conference programme at Singapore's Marina Bay Sands Expo & Convention Centre will feature 20 speakers presenting and debating the biggest trends and challenges shaping Asia's bulk liquid storage industry, including safety, sustainability and technology...

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Vopak, Stolthaven Terminals, Oiltanking Asia Pacific & Sembcorp Solar will be part of Tank Storage Asia's 2019 conference programme.

Organised by Tank Storage Magazine, the two-day CPD-certified conference programme at Singapore's Marina Bay Sands Expo & Convention Centre will feature 20 speakers presenting and debating the biggest trends and challenges shaping Asia's bulk liquid storage industry, including safety, sustainability and technology.

On day one, Mark Stuart from the Anagram Group, an internationally sought-after speaker and trainer specialising in the future of leadership and innovation, will open with his keynote: 'Leadership in a Digital Age'. The presentation will explain why organisations need to evolve in a world of change and disruption, give details of how leading companies are preparing for the future of work, and provide a four-step framework to help business leaders prepare for the digital age.

Paul Hickin, associate director at Platts, will then speak about global supply and demand balances, including OPEC and US shale, changes in oil, and market dynamics and structures.

In the afternoon, Edwin Ebrahimi, innovation engagement leader at Vopak, will discuss the company's own digital transformation journey through the implementation of smart terminals. This includes recent developments in digital asset management, the use of drones for tank and jetty inspections, plus the use of smart sensors in condition marketing.

Chok Vui Shung, general manager at Stolthaven Terminals, will share his thoughts on energy efficiency within the tank terminal industry and explain how Stolthaven Terminals has improved its sustainability credentials by converting to solar as its source of energy.

Lai Siang Yeong, assets and operations manager at Oiltanking Asia Pacific, will give details on how the organisation has become compliant with Singapore's Safety Case Regime. This includes how the organisation, one of the world's largest independent operators of tank terminals, overcame challenges, involving both internal and external stakeholders, to change its organisational structure and the mindset of its employees.

Day two begins with an informative presentation on IMO2020, hosted by Sushant Gupta, director Asia-Pacific refining, at Wood Mackenzie. The changes in demand for high sulphur fuel oil and low sulphur fuel oil, and what this means for storage opportunities in Asia, will be reviewed. The session will also analyse existing trade flows for refined products and crude oil.

The next two presentations will look ahead to the future of Asia's bulk liquid storage industry. Harshit Sharma, oil & gas Expert at Lux Research, will examine the role of hydrogen in a decarbonised future. A session on big data and artificial intelligence, detailing how it can be used to reduce tanker waiting times and enhance terminal utilisation, will then be delivered by both Mark Lim, commercial manager at Stolthaven Terminals, and Chye Poh Chua, CEO at ShipsFocus.

In the afternoon, Sridhar Ramamurthy, downstream advisor and freelance consultant on petroleum and petrochemical industry matters, will use insights gathered over 38 years in the petroleum industry to discuss the challenges and opportunities in setting up petroleum products storage terminals in India.

Ian Travers, director at Process Safety Consultancy, will focus on risk and vulnerability in high hazard industries for his presentation. He will discuss process safety management, in particular where failure of containment is most likely to occur, as well as preventative and mitigation measures. The presentation will help management teams and operators identify which areas of control of risk within their facilities should receive the greatest attention to ensure risks are being effectively managed.

The conference will also give delegates the opportunity to speak with like-minded decision makers, thought leaders and global innovators, with several networking sessions interspersed throughout. This includes a networking reception hosted in the delegate lounge from 5pm on day one of the show.

Attendees of Tank Storage Asia 2019 will also have plenty of opportunities to visit the exhibition where leading companies from across the world will be showing their latest products and services. In addition, the Innovation Zone will host the industry's most innovative companies and afford visitors the opportunity to get amongst the latest trends.

Mark Rimmer, Tank Storage portfolio divisional director, concludes: 'We are lucky enough to have the world's leading minds in the tank storage industry joining us to share their experiences and knowledge as part of the event's conference programme. It will be a place where top industry leaders can discuss how to resolve challenges, both within their own businesses and in the wider industry, by sharing valuable information that will shape the future of Asia's bulk liquid storage industry.'

Tank Storage Asia takes place on September 25 & 26 at the Marina Bay Sands Expo & Convention Centre in Singapore. Visitors booking before the 15th August will receive a special early bird rate. For more information on the exhibition and conference visit www.tankstorageasia.com.



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Terminal News
July 16, 2019
Odfjell sells shares in Jiangyin terminal for $46 million
Odfjell Terminals has sold its 55% indirect equity interest in Odfjell Terminals Jiangyin in China to Yangzijiang Shipbuilding for $46 million.After Lindsay Goldberg completed the sales of its shareholdings in the US and European terminals, it is now in the process of selling its shareholding in the Asian terminals...

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Odfjell Terminals has sold its 55% indirect equity interest in Odfjell Terminals Jiangyin in China to Yangzijiang Shipbuilding for $46 million.

After Lindsay Goldberg completed the sales of its shareholdings in the US and European terminals, it is now in the process of selling its shareholding in the Asian terminals. Odfjell has decided to tag along on LG's sale of its indirect shareholding in Odfjell Terminals Jiangyin.

Kristian Mørch, CEO of Odfjell, says: 'We are pleased to have concluded the sale of our Jiangyin terminal and its jetty at what we believe is a fair valuation that is a testimony to the strength and quality of the investments made since 2007.

'This divestment is in line with our strategy to grow and focus on chemical terminals in locations where we can harvest synergies with Odfjell Tankers.

'We appreciate the cooperation we have had with our partner Jiangsu Garson Gas in China, and whish them and their new partner Yangzijiang Shipbuilding a successful future in further developing the full potential of the terminal and its jetty.'



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Terminal News
July 10, 2019
Rotterdam explores developing blue hydrogen production hub
Rotterdam is exploring the potential of becoming a major hub for the production, uptake and trading of hydrogen following a report that revealed its impact on reducing CO2 emissions.A feasibility study carried out by 16 companies and organisations, under the guidance of Deltalinqs, revealed that the large-scale production and utilisation of blue hydrogen will allow local industry in Rotterdam to substantially reduce its CO2 emissions before 2030...

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Rotterdam is exploring the potential of becoming a major hub for the production, uptake and trading of hydrogen following a report that revealed its impact on reducing CO2 emissions.

A feasibility study carried out by 16 companies and organisations, under the guidance of Deltalinqs, revealed that the large-scale production and utilisation of blue hydrogen will allow local industry in Rotterdam to substantially reduce its CO2 emissions before 2030.

The H-vision project is focused on the production of hydrogen using natural gas and refinery fuel gas. The CO2 that is released during production will be captured and stored in depleted gas fields under the North Sea. The blue hydrogen obtained by these means can be used as a low-carbon energy carrier in industrial processes in order to generate high temperatures or to produce electricity.

The feasibility study found that H-vision is able to realise a substantial CO2 reduction in the short term. Savings will increase from 2.2 million tonnes in 2026 up to 4.3 million tonnes in 2031. When considered in relation to the total CO2 emissions of Rotterdam's industrial sector in 2018, the adoption of blue hydrogen as an energy carrier for industrial purposes will result in an emission reduction of 16%.

Based on current insights, the construction of the H-vision hydrogen installations in the reference case will involve an investment of €1.3 billion. Including the required infrastructure and technical adaptations at the industrial users' end, the total investment is estimated to be around €2 billion.

Deltalinqs chairman Steven Lak says that H-vision is an important step for Rotterdam and the Netherlands.

'Industry has taken the lead when it comes to developing a practical solution that allows us to dramatically cut back on CO2 emissions in the short term. The hydrogen chain and the associated infrastructure for H-vision will make it easier to incorporate green hydrogen in the system over time. This means that H-vision offers two important benefits; reducing CO2 emissions in the short term and accelerating the energy transition by paving the way for future green hydrogen economy.'

H-vision is now conferring with the government about regulations, risk hedging and financial support. The measures in the climate accord with also play an important role in this.

The finalisation of an investment decision could be reached as early as 2021.



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Terminal News
July 10, 2019
Qatar Petroleum & Chevron Phillips signs petrochemical complex agreement
Qatar Petroleum and Chevron Phillips Chemical Company have signed an agreement to develop a new world-scale petrochemical project in the US Gulf Coast.The $8 billion US Gulf Coast II Petrochemical Project will include an ethylene cracker with a capacity of two million tonnes per annum, making it the largest cracker in the world...

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Qatar Petroleum and Chevron Phillips Chemical Company have signed an agreement to develop a new world-scale petrochemical project in the US Gulf Coast.

The $8 billion US Gulf Coast II Petrochemical Project will include an ethylene cracker with a capacity of two million tonnes per annum, making it the largest cracker in the world. It will also include two high-density polyethylene units with a capacity of one million tonnes per annum each. The complex will be located in a region of the Gulf Coast where there is direct access to significant ethane quantities produced by US shale basins, including the Permian Basin.

Qatar Petroleum will own a 49% share in the project while Chevron Phillips Chemical will own the remaining 51% share and provide project management and oversight and be responsible for the operation and management of the facility.

The award of EPC contracts for the project is currently planned for 2021, with the new facility expected to start-up in 2024.

His Excellency Saad Sherida Al Kaabi, minister of state for energy affairs and president and CEO of Qatar Petroleum, says: 'This important project will help meet increasing global demand for petrochemicals market. It also showcases the momentum of Qatar Petroleum's international growth strategy, which has taken robust steps in various upstream and downstream activities in many parts of the world.'

Mark Lashier, president and CEO of Chevron Phillips Chemical, adds: 'Qatar Petroleum is already a terrific partner of Chevron Phillips Chemical on petrochemical ventures in Qatar and we look forward to expanding our relationship in the US as we jointly seek to develop a new petrochemical facility along the US Gulf Coast.'



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Terminal News
July 10, 2019
Oiltanking Tallinn terminal bought by Olerex
Aqua Marina, the holding company of Olerex Group, will acquire Oiltanking's Tallinn terminal in the port of Muuga, Estonia.The terminal comprises 78,550 m3 tank capacity and provides truck and ISO tank-loading infrastructure for the local and regional distribution of motor fuels and chemicals...

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Aqua Marina, the holding company of Olerex Group, will acquire Oiltanking's Tallinn terminal in the port of Muuga, Estonia.

The terminal comprises 78,550 m3 tank capacity and provides truck and ISO tank-loading infrastructure for the local and regional distribution of motor fuels and chemicals. It offers excellent connectivity with a highly efficient railway infrastructure, and jetties with optimal deep-sea water access. It is located in the customs free zone of the port of Muuga in Tallinn.

Karl Henrik Dahl, director West of Suez, Oiltanking, says: 'Oiltanking is constantly evaluating and optimising its terminal portfolio worldwide. Product flows in the Baltic Sea area have changed considerably in recent years, meaning that the capabilities of Oiltanking Tallinn could be better utilised by a new strong import-focused owner.'

Olerex chairman Antti Moppel adds: 'Olerex distributes more than a quarter of the entire Estonian retail consumption of automotive fuels. These volumes and the Oiltanking terminal with its sea and rail access are a perfect match, helping us to further optimise the fuels handling and distributing costs. Lower fuel handling costs help to keep our prices at forecourts reasonable.'

The terminal will be renamed to Olerex Terminal and will continue to serve its existing customer base.



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