Future fuels and future storage

Channoil’s Mark Waddington looks at the energy transition, demand developments and their impact on the storage sector in Europe The world is on a pathway to the most significant energy transition since the emergence of fossil fuels as a major global energy source. The evidence for climate change is no longer under serious dispute, the major question now, is how quickly the mitigating actions need to take place. There will be a repositioning in the tank storage sector and there will be localised casualties. Increasingly, investment is going to be driven by the requirements to be sustainable and green. The effects – driven by evolving demand – are expected to be highly regional, and this will determine storage demand. We anticipate an important phase for the tank storage sector as the decarbonisation journey accelerates but with a regional imbalance in the growth trends. Clearly, demand for conventional fossil fuels will decline, but at what pace? And what alternatives will the storage sector have for maintaining revenues? ROAD TRANSPORT FUEL The latest round of EU legislation attempts to make room for a range of fuel and energy solutions. There is a strong incentive for...