Gate terminal starts construction of 4th LNG tank at the port of Rotterdam
August 23 2023 - 1:00AM
Gate terminal starts construction of 4th LNG tank at the port of
Rotterdam
Gate terminal starts construction of 4th LNG tank at the port of
Rotterdam Rotterdam, the Netherlands, 23 August 2023 07:00 CEST
Gate terminal and its shareholders Gasunie and Vopak, are pleased
to announce that the final investment decision has been taken to
expand Gate terminal’s storage and regasification capacity. The
expansion consists of a new LNG storage tank of 180,000 cubic
meters and additional regasification capacity of 4 BCM per year.
The new capacity is already rented out under long term commercial
agreements and is expected to be ready for operation by the second
half of 2026. Vopak and Gasunie are the founders and owners of Gate
terminal in Rotterdam which has been operational since 2011. The
terminal plays a crucial role in the supply and availability of gas
in the Netherlands and its neighboring countries. Once all
envisaged projects at Gate terminal have been completed, the
terminal will have a total regas capacity of 20 billion cubic
meters per year. Hans Coenen, on behalf of the Board of Directors
of Gasunie: “The investment in this new tank is part of a broader
package of proposed and already realized measures to increase LNG
import capacity in the Netherlands. This is necessary to compensate
for the loss of Russian natural gas and to reducethe scarcity of
natural gas on the European gas market. In addition to expanding
LNG import capacity, Gasunie is continuing to accelerate the energy
transition. For example, through the construction of a national
hydrogen network and the conversion of import terminals. We will
also continue to focus on green gas, transport of heat and CO2
capture and storage.”Dick Richelle, CEO at Vopak: “We are excited
to build upon our successful partnership with Gasunie. This
investment fits well with Vopak’s strategy to grow in LNG
infrastructure. We are proud to develop and operate reliable and
open access infrastructure as this plays an important role in the
security of supply of energy.” Jarmo Stoopman, Managing
Director at Gate terminal: “Now that all elements are in place, we
are happy that today we can start with the construction of this
important expansion. We look forward to working with our
contractors and ensuring a safe and timely construction of this 4th
tank.” Financial paragraphThe total investment is
approximately EUR 350 million. The envisaged financing structure of
this expansion is approximately 15% of the costs to be funded with
equity and approximately 85% to be funded via a non-recourse
project financing for which commitments are in place. The project
financing is expected to be finalized by the end of 2023. The
equity contribution of each of the shareholders will be
approximately EUR 26 million with cash outs expected in the coming
years. About GasunieGasunie is a European energy
high-- infrastructure company. Gasunie’s network is one of the
largest pressure pipeline networks in Europe, comprising over
17,000 kilometres of pipeline in the Netherlands and northern
Germany. Gasunie provides natural and green gas transport services
through its subsidiaries, Gasunie Transport Services B.V. (GTS) in
the Netherlands and Gasunie Deutschland in Germany. With its
crossborder gas infrastructure and services, Gasunie facilitates
TTF, which has become a leading European gas trading point. Gasunie
also provides other gas infrastructure services, including gas
storage and LNG. Gasunie wants to help accelerate the transition to
a CO2 neutral energy supply and believes that gas related
innovations, for instance in the form of renewable gases such as
hydrogen and green gas, can make an important contribution. Both
existing and new gas infrastructure play a key role here. Gasunie
also plays an active part in the development of other energy
infrastructure to support the energy
transition. www.gasunie.nlAbout
Vopak Royal Vopak is the world’s leading independent
tank storage company. We store vital products with care. Products
for everyday life. The energy that allows people to cook, heat or
cool their homes and for transportation. The chemicals that enable
companies to manufacture millions of useful products. The edible
oils to prepare food. We take pride in improving access to cleaner
energy and feedstocks for a growing world population, ensuring
safe, clean and efficient storage and handling of bulk liquid
products and gases at strategic locations around the world. We are
excited to help shape a sustainable future by developing
infrastructure solutions for new vital products, focusing on zero-
and low-carbon hydrogen, ammonia, CO2, long duration energy storage
and sustainable feedstocks. We have a track record of over 400
years in navigating change and are continuously investing in
innovation. On sustainability, we are ambitious and performance
driven, with a balanced roadmap that reflects key topics that
matter most to our stakeholders and where we can have a positive
impact for people, planet and profit and the United Nations
Sustainable Development Goals. Vopak is listed on the Euronext
Amsterdam and is headquartered in Rotterdam, the Netherlands. For
more information, please visit www.vopak.com About Gate
terminalGate terminal B.V. is a 50/50 joint venture
between N.V. Nederlandse Gasunie and Koninklijke Vopak N.V. The
terminal has been operational since September 2011. The imported
LNG is unloaded at the terminal, stored and evaporated to natural
gas before it is delivered to the transmission network for the
European markets. Gate terminal also offers a portfolio of other
services including backloading services for LNG vessels, ranging
from small bunker vessels to large LNG carriers, and loading of LNG
tank trucks and containers.Once all envisaged projects at Gate
terminal have been completed, the terminal will have a total regas
capacity of 20 billion cubic meters per year. For more
information please visit www.gateterminal.com
For more information please
contact:Gate terminalIngeborg Ris -
Communication Managerinfo@gateterminal.comVopak
Press: Liesbeth Lans - Manager External
Communication,e-mail: global.communication@vopak.com Vopak
Analysts and Investors: Fatjona Topciu - Head of Investor
Relations,e-mail: investor.relations@vopak.com
Gasunie - Press: Marie-Lou Gregoire -
Communication Manager, M.H.Gregoire@gasunie.nl
- Picture Gate terminal Rotterdam - Gasunie:Vopak - the 3 grey
LNG tanks are located next to the water side - 4th LNG tank will be
constructed next to these tanks
- 2023-08-23 Press Release Gate terminal starts construction of
4th LNG tank at the port of Rotterdam
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