TANK STORAGE IN AN UNCERTAIN WORLD

All eyes are on the Russia/Ukraine war, but this is not the only challenge facing the tank storage industry. In fact, it is actually quite a short-term problem, with the next year set to be a turbulent one. Prices are volatile, fluctuating as the supply and demand of gas does. On top of this, politicians are not moving fast enough to really respond to the boycott of Russian oil. While there is some slow movement towards using other fuels, the whole oil chain needs support in processing and storing these. Come October, it’s likely there will be an unprecedented diesel shortage in Europe, due to Russia’s domination of this market. From a consumer perspective, this could be devastating. However, this is another short-term problem that will need a long-term solution.   Independent regions One solution and potential future trend is toward different regions focusing on energy independence. As prices continue to fluctuate due to the conflict in Ukraine, Europe and the UK should consider regional energy security. More strategic storage stocks are required – but this will take time. And a crucial question is whether the region has enough space for the vast quantities...