Switzerland-based petrochemical firm Ineos is planning a new tank storage project, which will boost VLGC cargo demand into Europe.
Ineos plans to construct Europe's largest butane storage tank at the Oiltanking Antwerp Gas Terminal. The 135,000-cbm, fully refrigerated tank will supply feedstock to a German petrochemical plant. The storage may also supply another Ineos plant in Lavera, France.
Ineos said the new facility will be capable of importing butane from the US and other markets aboard VLGCs. Ineos may also supply other butane consumers in Europe via the coastal trade.
David Thompson, who heads Ineos Trading & Shipping said: “This tank and terminal provides Ineos with increased flexibility and security of supply that will significantly improve our competitiveness in Europe."
The project is scheduled for completion in 2019. No cost for the new facility was released. Ineos is an active shipping concern through its five chartered-in gas carriers ferrying ethane from the US.
