Vopak to buy 50% of EemEnergy LNG terminal
Vopak has entered into an agreement with Gasunie to acquire 50% of the shares in EemEnergy LNG import terminal located at Eemshaven in the Netherlands, it said on April 11.
This transaction will be subject to a number of conditions, including the approval from the competition authorities, the company said. The deal is targeted to be completed latest by October this year.
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The LNG terminal has been operational since September 2022 and has a regas capacity of 8bn m3/year. The partners will explore to increase the capacity further, Vopak said. They will also look at developing the Eemshaven site to facilitate the import of green hydrogen.
Vopak and Gasunie are the founders and owners of Gate terminal in Rotterdam which has been operational since 2011. The terminal has a current regas capacity of 16bn m3/yr. The partners are planning to increase the capacity by another 4bn m3/yr and add a fourth tank for this additional capacity.
Gate will continue to develop this project, including financing with the aim to reach a final investment decision by September 2023, Vopak said.
Meanwhile,Vopak has decided to no longer pursue the acquisition of 49.99% of the vessel-owning company of Japan’s MOL that owns a floating storage and regasification unit (FSRU). Vopak has been working with MOL for developing and commissioning the Hong Kong FSRU LNG terminal.
“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. Vopak will remain involved in the commissioning of the terminal and will continue to provide support to the operation of the terminal as required,” it said.