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Exolum to acquire 50% of Moda Midstream Houston

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Molly Cooper

Journalist at Tank Storage Magazine.

Exolum has announced an agreement to acquire 50% of a leading ammonia and NGL storage terminal in Houston, Texas, USA, from Moda Midstream.

a port with ships and a sunsetThe terminal, Vopak Moda Houston, is currently jointly owned by Royal Vopak and Moda Midstream. Royal Vopak remains as 50% shareholder in the new joint venture.

The acquisition will enable Exolum to establish a key presence in the U.S. Gulf Coast with existing ammonia logistics infrastructure. The terminal and its partners are currently developing one of the most advanced low-carbon ammonia production and export projects worldwide, with targeted annual throughput capacity of 1.1 million tonnes and 70,000 tonnes of additional storage capacity permitted.

The facility is strategically located on the Houston Ship Channel, a global chemical hub and one of the largest ports in the world.

Exolum’s CEO, Jorge Lanza, says: ‘This operation, our first in the U.S., will enable us to continue strengthening our position in strategic ports and to promote the energy transition and the decarbonisation of mobility at an international level.’

‘I am excited to see how Vopak Moda Houston will build upon its solid foundation to expand and pursue growth opportunities with global storage leader Exolum as its new partner,’ adds Moda Midstream president and CEO Jonathan Ackerman.

Maria Ciliberti, Vopak president US and Canada says: ‘I am very pleased with Exolum entering as co-shareholder. By pooling our knowledge, network and experience we can further develop this strategically located terminal and marine infrastructure.’

 

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