In response to the growing demand for sustainable energy, Vopak Singapore is exploring the expansion of its ammonia storage infrastructure with full import and export capabilities for low carbon power generation and bunker fuels at its Banyan terminal.
With a storage capacity of close to 1.5 million cbm, Vopak Banyan terminal is an integrated oil, chemical and gas hybrid storage terminal. The terminal is strategically located on Jurong Island, and has extensive experience in safely handling ammonia, a product for which extra safety precautions are needed. Currently, it owns and operates a refrigerated ammonia tank with a capacity of 10,000 cbm which is supporting petrochemical activities in Singapore.
The expansion, subject to final investment decision, will add new storage capacity for ammonia to primarily support the power and maritime sectors. Vopak Singapore has recently completed the conceptual design of the planned expansion and has commenced the quantitative risk assessment study.
Rob Boudestijn, Managing Director of Vopak Terminals Singapore: “In line with Singapore’s ambition on net-zero carbon emissions, Vopak can leverage on our proven expertise of safely storing ammonia in Banyan. We have the right expertise and are at the right location to facilitate new supply chains for low carbon ammonia. We do see a strong potential in Singapore that supports the momentum of developing ammonia ready infrastructure ahead of other locations.”
Earlier in 2022, Vopak announced that it will accelerate its portfolio investments towards new energies and sustainable feedstocks by allocating EUR 1 billion in growth capital to these activities by 2030. Here, Vopak’s focus is on infrastructure solutions for low-carbon and renewable hydrogen, ammonia, CO2, long duration energy storage and sustainable feedstocks. At the same time, Vopak will grow its base in industrial and gas terminals by allocating EUR 1 billion to these activities by 2030. This will further support a long-term and steady cash flow generation. Vopak will continue to invest in the growing global gas markets and expand its network of LNG and LPG terminals at strategic locations. Vopak aims to further grow and maintain its position as market leader in industrial terminals.
For more information visit www.vopak.com
