Vopak: Joint venture to develop liquefied natural gas (LNG) terminal near Marseille
Shell and Vopak announced a joint venture to develop a liquefied natural gas (LNG) terminal at Fos-sur-Mer, France. Vopak LNG Holding B.V. will become the main shareholder with a 90% share in the joint venture, the Fos Faster LNG Terminal S.A.S., and Société des Pétroles Shell will hold the remaining 10%.
Fos Faster will be developed as part of the expansion strategy of the Grand Port Maritime de Marseille and in close cooperation with the Port Authority.
The joint venture combines the experience of Vopak in tank terminal development and operations with Shell’s position as the largest equity shareholder of LNG capacity among international oil companies.
As previously announced by Shell the Fos Faster LNG terminal has an initial planned capacity of around 8 billion cubic meters of gas per year, more than 15% of the current annual gas consumption of France. Subject to market demand, permitting and approval processes the terminal could commence operations around the middle of the next decade.
The proposed terminal would further enhance gas supply diversification by providing France and Europe access to new sources of natural gas.
Fos Faster LNG terminal will be positioned as an independent multi-customer terminal. The business model of the terminal will be similar to the Gate terminal currently under construction in Rotterdam.
The Fos Faster project fits Vopak’s ambition to establish a network of LNG terminals providing alternative sourcing opportunities for the European markets, through strategically located terminals connected with the main natural gas grids.
Profile Vopak
Royal Vopak (Vopak) is the world’s largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 80 terminals with a storage capacity of around 27 million cbm in 32 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.
Profile Royal Dutch Shell
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 100 countries and territories with businesses including oil and gas exploration and production; production and marketing of Liquefied Natural Gas and Gas to Liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.
With a staff of 450 and activities in 19 countries, Shell Energy Europe (SEE) focuses on managing supplies and sales of gas to a large range of customers across Europe. SEE can draw on an diverse
gas supplies from Shell's gas production activities across the globe as well from third parties. The supply portfolio includes pipeline gas and LNG from Shell's worldwide operations as the global leader in LNG.
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