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