Vopak looks to gas
Vopak will continue with its oil business but it sees growth in LNG and chemicals
Dutch tank storage firm Vopak further expanded its LNG portfolio in September with the purchase of a 49pc stake in the Cartagena regasification terminal in Colombia. While its traditional oil business is not going away, it is increasingly looking at other markets such as LNG, as well as chemicals, to drive growth. The firm’s CEO Eelco Hoekstra spoke to Petroleum Economist to outline the subtle shift in strategy. How has your business been evolving? Hoekstra: Over the last five years or so, we have divested more than 20 terminals and redeployed that cash into new business lines, basically to change the geography and type in which we invest—predominately more in gas and industrial and chemi
Also in this section
30 April 2025
With a new board appointed to lead NNPC and moves by President Tinubu to exert control in the Delta region, there is renewed hope the country will be able to turn the corner and rebuild production to former peaks
30 April 2025
While economic weakness and the electric vehicles trend have hit oil demand growth, petrochemicals and jet fuel show more nuanced changes across the barrel
30 April 2025
The company will use methane-rich gas produced from local coal to temporarily replace lost supplies from Mozambique
28 April 2025
Rewards offered by investment in the sector must be balanced by its energy consumption amid an increasingly gas-hungry domestic market
