European Commission approves Gasunie, Oiltanking and Vopak to set up Joint Venture to develop LNG Terminal in Northern Germany
Gasunie LNG Holding B.V., Oiltanking GmbH and Vopak LNG Holding B.V. have acquired the approval under the EU Merger Regulation to establish a joint venture for owning and operating a liquefied natural gas (LNG) terminal in Northern Germany. As Gasunie says in a press release, this decision is a milestone within the feasibility study the companies are currently conducting.
The three companies are jointly investigating the possibilities for constructing and operating a multi-service LNG terminal (including import and small scale services) in Northern Germany. The location under investigation is Brunsbüttel along the Elbe river close to the city of Hamburg. This positive decision of the European Commission is an important milestone in developing a LNG facility in Northern Germany. The feasibility study consists of economic, technical, nautical and regulatory assessments as well as the permits procedures. Now that the EC approval is in place, the parties are ready to jointly work towards the next development phases. No financial investment decisions have been taken yet.
Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Oiltanking is one of the largest independent tank storage providers for petroleum products, chemicals and gases worldwide. The company owns and operates 79 terminals in 24 countries within Europe, North and South America, Middle East, Africa, India as well as in Asia. Oiltanking has an overall storage capacity of 21 million cbm.
Gasunie is a European gas infrastructure company. The company provides the transport of natural gas and green gas via its subsidiaries Gasunie Transport Services B.V. (GTS) in the Netherlands and Gasunie Deutschland in Germany. The company also offers other services in the gas infrastructure field, including gas storage and LNG.
Royal Vopak is the world's leading independent tank storage company. The company operates a global network of terminals located at strategic locations along major trade routes. With a 400-year history and a strong focus on safety and sustainability, we ensure efficient, safe and clean storage and handling of bulk liquid products and gases for our customers. By doing so, we enable the delivery of products that are vital to our economy and daily lives, ranging from oil, chemicals, gases and LNG to biofuels and vegoils. Vopak is listed on the Euronext Amsterdam stock exchange and is headquartered in Rotterdam, the Netherlands. Including our joint ventures and associates, we employ an international workforce of over 5,500 people. Vopak operates 67 terminals in 25 countries with a combined storage capacity of 35.7 million cbm, with another 2.8 million cbm under development, to be added before the end of 2019.
