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Vopak acquires 50% EemsEnergyTerminal

Written by...

Cyann Fielding

Cyann Fielding

Journalist at Tank Storage Magazine.

Vopak has completed the principle agreement that was announced in April 2023 and has become a 50% shareholder in EemsEnergyTerminal, an LNG import terminal of 8 billion cubic meter (bcm) per year located in the Eemshaven in the Netherlands. This terminal has been operational since September 2022.

Gasunie and Vopak are working to increase the capacity further towards 10 bcm per year, highlighting the commitment of the partners to jointly develop and operate open access LNG infrastructure and contribute to the energy security of Europe. The partners are planning the further development of the Eemshaven site to facilitate the import of green hydrogen.

The total investment by Vopak to acquire 50% of EemsEnergyTerminal is just above €80 million with cash out in two installments in Q4 2023 and in Q2 2024. This acquisition will positively contribute to Vopak’s operating cash return for the remainder of the year and has limited impact on the Vopak full year 2023 EBITDA outlook.

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