Vopak provides an update on its LNG project portfolio

• Agreement to acquire 50% of the shares in EemEnergyTerminal
• Gate preparing a final investment decision for the 4th LNG Tank
• Vopak decides to no longer make use of the share right of 49.99% of the floating storage and regasification unit (FSRU) in Hong Kong
  
  

Rotterdam, the Netherlands; 11 April 2023

Today Vopak provides an update on its LNG project portfolio. This update is in line with Vopak's strategic priorities to improve its financial and sustainability performance, to grow its base in industrial and gas terminals, and to accelerate towards new energies and sustainable feedstocks.

Vopak to become shareholder in EemsEnergyTerminal
Gasunie and Vopak entered into a principle agreement whereby Vopak will acquire 50% of the shares in EemsEnergyTerminal B.V. This transaction will be subject to a number of conditions, including the approval from the competition authorities. The transaction is targeted to be completed latest by 1 October 2023.

The EemsEnergyTerminal is an LNG import terminal located in the Eemshaven in the Netherlands. Gasunie developed this new floating LNG terminal in the Eemshaven area in response to gas supply insecurities and a desire to reduce the dependency on Russian gas. The LNG terminal has been operational since 15 September 2022 and has a regas capacity of 8 billion cubic meters per year. The partners will explore to increase the capacity further. This agreement highlights the commitment of Gasunie and Vopak to jointly develop and operate open access LNG infrastructure in the Netherlands and contribute to the energy security of Europe. The partners are planning the further development of the Eemshaven site to facilitate the import of green hydrogen.

Ulco Vermeulen, director business development at Gasunie: “I am pleased with the intention of Vopak to become a co-shareholder in EemsEnergyTerminal, as our long-term partner in enabling energy import and terminalling. By pooling our knowledge and experience we will offer a unique and reliable LNG import solution and we will be even better positioned and committed to the future development of green hydrogen import infrastructure.”

Walter Moone, president New Energies & LNG at Vopak: “We are excited to build upon our successful partnership with Gasunie. This fits very well with Vopak’s strategy to grow in LNG infrastructure and accelerate towards new energies. We are proud to develop and operate reliable and open access infrastructure as this plays an important role both in the security of energy, as well as in the energy transition.”