Dutch oil storage company Vopak and Gasunie said on Tuesday they will build the Netherlands' first liquefied natural gas terminal in Rotterdam, estimated to cost about 800 million euros ($1.15 billion).
Denmark's DONG Energy, Dutch energy utility Essent and Austria's OMV Gas International, which will be the first customers of the terminal, will each acquire a a 5 percent equity stake in the project, the two said in a joint statement.
They have each committed to annual throughput of 3 billion cubic metres (bcm). The terminal will receive LNG from special tankers and warm the chilled LNG into natural gas for delivery into the transmission network for the Dutch and other European markets.
"With the continuous increase in demand and a decrease of production of natural gas in northwest Europe, the Gate terminal helps to fill the gap and will become an important independent distribution hub," Vopak Chairman John Paul Broeders and Gasunie Chairman Marcel Kramer said in a statement.
The terminal, which should be fully operational in the second half of 2011, will have an annual thoroughput capacity of 9 billion cubic meters, which can be increased to 16 billion cubic meters in the future, they said.
The terminal will consist of three storage tanks -- each with a net capacity of 180,000 cubic metres -- and a jetty which will be able to accomodate the biggest LNG carriers.
Separately, Vopak and Gasunie said they had agreed with Essent to further develop an LNG project at the northern port of Eemshaven. They have signed an initial agreement to each buy a 25 percent stake in the project, while Essent keeps 50 percent.
They did not disclose financial details. The planned Eemshaven LNG terminal is due to have a maximum throughput capacity of 12 bcm a year, they said in a statement.
Vopak is the global market leader for the independent storage and handling of liquid oil products, chemicals, vegetable oils and liquefied gases.
Gasunie is a gas infrastructure and transport company which operates one of the biggest networks in Europe.
Denmark's DONG Energy, Dutch energy utility Essent and Austria's OMV Gas International, which will be the first customers of the terminal, will each acquire a a 5 percent equity stake in the project, the two said in a joint statement.
They have each committed to annual throughput of 3 billion cubic metres (bcm). The terminal will receive LNG from special tankers and warm the chilled LNG into natural gas for delivery into the transmission network for the Dutch and other European markets.
"With the continuous increase in demand and a decrease of production of natural gas in northwest Europe, the Gate terminal helps to fill the gap and will become an important independent distribution hub," Vopak Chairman John Paul Broeders and Gasunie Chairman Marcel Kramer said in a statement.
The terminal, which should be fully operational in the second half of 2011, will have an annual thoroughput capacity of 9 billion cubic meters, which can be increased to 16 billion cubic meters in the future, they said.
The terminal will consist of three storage tanks -- each with a net capacity of 180,000 cubic metres -- and a jetty which will be able to accomodate the biggest LNG carriers.
Separately, Vopak and Gasunie said they had agreed with Essent to further develop an LNG project at the northern port of Eemshaven. They have signed an initial agreement to each buy a 25 percent stake in the project, while Essent keeps 50 percent.
They did not disclose financial details. The planned Eemshaven LNG terminal is due to have a maximum throughput capacity of 12 bcm a year, they said in a statement.
Vopak is the global market leader for the independent storage and handling of liquid oil products, chemicals, vegetable oils and liquefied gases.
Gasunie is a gas infrastructure and transport company which operates one of the biggest networks in Europe.