THE EUROPEAN TANK STORAGE SECTOR IN AN EVOLVING ENERGY LANDSCAPE

Lucia van Geuns and Irina Patrahau from The Hague Centre for Strategic Studies (HCSS) discuss uncertainty and the need for collaboration the global energy transition will undoubtedly bring challenges for states and companies alike, changing the global power balance and the architecture of economies. The tank storage sector can be part of the solution to these challenges. While the products in storage will change, storage can continue functioning as an essential component of the new energy system. Storing and handling e-fuels, ammonia, liquid organic hydrogen carriers (LOHC), flow batteries, or synthetic aviation fuels are some of the emerging roles of tank storage. To contribute to the decarbonisation of key sectors like transport and industry, tank storage companies should invest in innovation, resilience and adaptation strategies. The unfolding of the next decades is dominated by uncertainty. Whereas for 2030 increasingly more specific targets, strategies and legislative frameworks are being established, the path toward 2050 remains blurry. The global ambition to reach net zero by 2050 could materialise in a myriad of ways, depending on factors such as technological...