Etasca: Future-Proofing Terminals For The Changing Environment

Following his talk at StocExpo, Andrew Inglis, director at Etasca, identifies and comments on the primary market developments impacting demand for bulk liquid storage and how terminals can respond Tank terminals are accustomed to responding to cyclical changes in market demand and trade flows for the products they handle. Historically, these fluctuations have been driven by macroeconomic changes and/or geopolitical disruptions – such as the current war in Ukraine. However, the energy transition is ushering in significant structural changes in refined product consumption, trade flows, and storage demand. These market changes will accelerate in the coming years, presenting both opportunities and challenges for future tank terminal storage demand. Policy Shifts Accelerating The Energy Transition The European market is ahead of the global energy transition curve, driven by more ambitious sustainability goals and regulations. For instance, the EU’s ‘Fit for 55’ package aims to reduce greenhouse gas emissions by 55% by 2030 compared to 1990 levels and achieve climate neutrality by 2050. This package encompasses multiple schemes already impacting trade, consumption, and storage...