Chemical giant INEOS is to build Europe’s biggest LPG storage tank.
The firm has signed a contract to construct the new 135,000 cbm fully refrigerated butane tank at the with Oiltanking Antwerp Gas Terminal in Belgium.
INEOS say the super-sized storage tank will enable butane imports from the USA.
The largest gas carriers will also help bring in raw material from around the world to the firm’s plants at Koln, Germany.
The huge storage potential will also provide INEOS Trading & Shipping with options to trade butane in Europe.
David Thompson chief exectuive of INEOS Trading & Shipping said: “This agreement represents a strategic investment in the future of our naphtha crackers in Köln, 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.”
The import terminal which is planned to come on stream in 2019 will immediately supply butane into INEOS naphtha crackers at Köln but could open some optionality for at Lavéra, France later.
By Alan Shields
Source: Energy Voice
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