The transition to a decarbonized economy is a great challenge of our time. To honor the Paris Agreement and limit global warming to well below 2°C, governments and corporations have set GHG emissions reduction targets that will eventually result in reduced demand for fossil-based energy sources. It is especially strong on the mobility sector for both manufacturing and fuelling. All industries have a role to play in this transition. The storage of bulk liquid products is no exception. Rubis Terminal Infra will be at the forefront of this evolution.
Traditional fuels have historically represented the largest share by volume of products stored in bulk liquid storage terminals. Several factors will eventually lead to a decrease in fuel volumes, including the switch to electric vehicles and environmental regulations (e.g., diesel restrictions). However, global demand is expected to remain resilient in the short term, notably because, as of 2019, the average life of a passenger vehicle is ~11 years in the EU. On the supply side, product imbalances across regions (due to refinery closures or conversions) continue to favor the use of storage hubs.
The demand of storage for chemicals industry is expected to pursue its growth in Europe in coming years. This timeline offers an opportunity not to be missed for tank terminals to anticipate the flows of tomorrow. Our infrastructure is adapting to handle new forms of energy and to expand further in bio-based feedstocks to help the transition of our clients.
Contribution by Rubis Terminal France Group CRS/ESG Project Manager Pia Miguet Bordarier
For more information visit www.rubis-terminal.com
