LNG

June 24 (LNGJ) - Dutch utility Gasunie and storage group Royal Vopak may keep the Eemshaven LNG import facilities at the Groningen port in the Netherlands for longer than planned either for their continued use for LNG or other possible uses such as hydrogen or carbon-capture and storage projects.

   “In partnership with the Ministry of Economic Affairs and Climate Policy, Gasunie and Vopak are exploring options to keep operating the EemsEnergy Terminal for longer than initially planned,” said a statement. “This survey will not only look at LNG but is also intended to explore ways to bring about a future, rapid transition to a sustainable energy system, where hydrogen and carbon capture and storage play key roles,” they added.

Royal Vopak of the Netherlands has reached a positive final investment decision with Canada’s AltaGas to proceed with a large-scale energy and bulk liquids terminal at Ridley Island in the Canadian Pacific province of British Columbia.

Royal Vopak, the Dutch operator of global energy storage assets, reported a strong first quarter and an increase in net profits as it broadened its activities around the world and planned an LNG import terminal in South Africa.

Dec 1 (LNGJ) - Royal Vopak, the world’s leading independent tank storage company, has completed the acquisition of a 50 percent shareholding in the second LNG import facility in the Netherlands, located at Eemshaven in Groningen. The facility was launched in September 2022 by Dutch utility Gasunie, Vopak’s partner in the Rotterdam LNG terminal. “Gasunie and Vopak are working to increase the capacity further towards 10 billion cubic metres (from 8 Bcm per year), highlighting the commitment of the partners to jointly develop and operate open-access LNG infrastructure and contribute to the energy security of Europe,” said Vopak.

   The total investment by Vopak to acquire the 50 percent of the EemsEnergy Terminal company is just above €80 million ($87.4M). Vopak has also completed the sale of its three chemical terminals in Rotterdam, the Botlek, TTR and Chemiehaven facilities, to Infracapital for a total purchase price of €407M. “Total cash receipt net of transaction costs and net debt items at closing is €372M,” the company said.

Royal Vopak, the Dutch global storage company, reported higher net profits and revenues for the third quarter amid progress on liquefied natural gas projects in the Netherlands and storage ventures in Singapore and the US.

Royal Vopak, the Dutch global storage company and LNG sector participant, reported higher net profits and revenues for the second quarter as it enacted a mixture of projects reflecting energy market developments.

Gasunie, the Dutch utility and owner of stakes in the Dutch Rotterdam and Eemshaven LNG import terminals and the onshore German regasification project  planned for Brunsbüttel, posted increases in first-half net profits and revenues as natural gas markets evolved after the ending of Russian pipeline flows.

Royal Vopak of the Netherlands, the world’s leading independent tank storage company and a leading liquefied natural gas terminals shareholder, posted higher first-quarter net profits and revenues as it continued to develop European Union LNG infrastructure and expanded energy joint ventures in Canada and India.

Royal Vopak of the Netherlands, the world’s leading independent tank storage company and LNG terminals shareholder, said it aimed to take a 50 percent stake in the floating LNG project at the Dutch port of Eemshaven though was pulling out of an LNG terminal venture in Hong Kong.

Vopak said it had agreed to acquire a 50 percent stake in the Eemshaven project from Dutch utility Gasunie.

“This transaction will be subject to a number of conditions, including the approval from the competition authorities. The transaction is targeted to be completed at the latest by 1 October 2023,” Vopak said.

The EemsEnergyTerminal is an LNG import terminal located in the seaport of the province of Groningen.

“Gasunie developed this new floating LNG terminal in the Eemshaven area in response to gas supply insecurities and a desire to reduce the dependency on Russian gas,” Vopak explained.

Vopak has additionally decided to no longer pursue the acquisition of a 49.99 percent stake in a floating storage and regasification unit (FSRU) owned by Japanese shipping company Mitsui Osk Lines and deployed in Hong Kong.

FSRU plans

“Vopak has been working with MOL for developing and commissioning the Hong Kong FSRU LNG terminal, and Vopak has contributed much to the establishment of a reliable system for the operation and maintenance of the terminal,” Vopak stated.

“Although the commercial start is expected later this year, the delay of the project has resulted in reduced attractiveness and made Vopak decide not to make use of the share right,” it added.

Vopak said it would remain involved in the commissioning of the terminal and would continue to provide support to the operation of the terminal as required.

The Eemshaven LNG facility has been operational since September 2022 and has a regasification capacity of 8 billion cubic metres per year. 

It comprises two FSRUs, the “Energos Igloo” and an FSRU barge built in China for Belgian shipping company Exmar.

Vopak said that the partners would explore ways of increasing capacity further.

Vopak and Gasunie are also partners in the main Dutch LNG import terminal, the onshore Gate facility at the port of Rotterdam.

Dutch security

“This agreement highlights the commitment of Gasunie and Vopak to jointly develop and operate open access LNG infrastructure in the Netherlands and to contribute to the energy security of Europe,” the statement added.

Ulco Vermeulen, director of business development at Gasunie, said he was pleased with Vopak’s decision to become a co-shareholder in EemsEnergyTerminal.

“By pooling our knowledge and experience we will offer a unique and reliable LNG import solution,” Vermeulen added.

Walter Moone, president New Energies and LNG at Vopak, said he was keen to build on the existing successful partnership with Gasunie.

“This fits very well with Vopak’s strategy to grow in LNG infrastructure and accelerate towards new energies,” Moone explained.

“We are proud to develop and operate reliable and open access infrastructure as this plays an important role both in the security of energy as well as in the energy transition,” added Moone.

Royal Vopak, the Dutch company with global energy storage assets worldwide including stakes in LNG terminals, posted an annual loss including exceptional items linked to  the Europoort Terminal in Rotterdam and a floating LNG venture in Colombia in South America.