Royal Vopak announced it has been selected by Gulf Coast Growth Ventures (GCGV), the petrochemical joint-venture between ExxonMobil and SABIC, to design, build, own and operate a new industrial terminal on the U.S. Gulf Coast.
The terminal will be dedicated to serving the planned 1.8 million tonnes per year ethane cracker. All liquid products moved by marine vessels will be handled by the new Vopak terminal. The total capacity will be around 130.000 cbm tankage and will include pipelines connecting the terminal to the cracker complex.
“We’re very excited to support GCGV with this major industrial development in the U.S. This new terminal fits well into our growth strategy for industrial terminals,” said Eelco Hoekstra, Chairman of the Executive Board and CEO of Royal Vopak. “We’re proud of our expertise and long track record of storing vital products. We have high standards on safety and environmental care and we’re looking forward to becoming part of the Corpus Christi community.”
Vopak’s industrial terminal and associated infrastructure are expected to be operational consistent with a planned start-up by 2022. The investment is covered with a long-term agreement and is aligned with Vopak’s strategy to focus on industrial terminals and to service the chemical industry.