Gulf Oil and Gas accountACCOUNT

INEOS to Build the Largest Butane Storage Tank in Europe

Source: www.gulfoilandgas.com 3/9/2017, Location: Europe

Share |
INEOS has confirmed it has signed a contract with Oiltanking Antwerp Gas Terminal (OTAGT) to construct the largest butane storage tank ever built in Europe. The new butane tank will be located at the OTAGT terminal in the Port of Antwerp, Belgium.

The tank will allow INEOS to import butane from the USA, and world markets in VLGC carriers (the largest ships possible) to supply competitive raw material to its plants at Koln, Germany. It will also provide INEOS Trading & Shipping with options to trade butane in Europe.

David Thompson CEO INEOS Trading & Shipping said: “This agreement represents a strategic investment in the future of our naphtha crackers in K?ln, with potential later to extend supply to our site at Lavéra, at some point in the future. This tank and terminal provides INEOS with increased flexibility and security of supply that will significantly improve our competitiveness in Europe. It also positions INEOS as a major player in Global LPG markets.”

INEOS continues to invest in supply chain flexibility of its European facilities. Today’s announcement builds on its commitment to invest more than $1bn into the supply of ethane from the USA, securing the competitiveness of its gas crackers in Europe, located at Grangemouth, UK and Rafnes, Norway.

The import terminal which is planned to come on stream in 2019 will immediately supply butane into INEOS naphtha crackers at Koln but could open some optionality for at Lavéra, France later.

Vessels, Tanks >>

Vessels, Tanks News in Belgium >>

Austria >>  7/17/2017 - Based on the first forecast for demand and non-OPEC supply (including OPEC NGLs and non-conventional oil) for the year 2018, the demand for OPEC crud...
United Kingdom >>  7/17/2017 - OneSubsea, a Schlumberger company, has been awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract for a s...

Austria >>  7/11/2017 - The refinery utilisation rate in the US averaged around 93% during May, corresponding to 17.2 mb/d. This represented an increase of more than 100 tb/d...
Austria >>  7/6/2017 - Oil futures on both sides of the Atlantic tumbled more than 4.5% m-o-m to their lowest value since November 2016. This was due to plentiful supplies, ...

Austria >>  7/5/2017 - Open interest (OI) increased in May for selected US commodity markets such as crude oil, natural gas and copper, while it declined for agriculture, co...
Greece >>  6/27/2017 - Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System (I...

Related Categories: Barrels & Containers  Dish Ends  General  Glass Lined Tanks  Metal Pressure Vessels  Metal Tanks  Plastic Pressure Vessels  Plastic Tanks  Steel Plates  Vessels Internals 

Related Articles: Barrels & Containers  General  Glass Lined Tanks  Metal Pressure Vessels  Metal Tanks  Plastic Tanks  Steel Plates  Vessels Internals 


Belgium Oil & Gas 1 >> 

More News

 

Oil & Gas Companies in Belgium >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.