Vopak posts surge in net profits amid EU LNG expansions and energy joint ventures in Canada and India
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.
Dutch capacity up
Nov 11 (LNGJ) – Royal Vopak, the Dutch storage company and shareholder in the Gate LNG import terminal in Rotterdam, reported a growing footprint in industrial terminals in China and increased send-out capacity at Gate LNG.
Vopak posted net profits of €80.5 million ($81.1M) versus €71.2M in the same three months of 2021. Gross earnings in the quarter came to €227.4M compared with €257.3M in the 2021 quarter. Revenues rose to €349.6M from €309.5M in the prior-year quarter. “Our strong third-quarter performance demonstrates that our well diversified infrastructure portfolio uniquely positions Vopak to serve our customers amidst highly uncertain times,” said Chief Executive Dick Richelle.
