Low Carbon Hub to be Carved Out of Rotterdam’s Oil Terminal
Plans were announced to carve out a section of the Ports of Rotterdam’s existing oil terminal to create a new low-carbon hub. Start-up Global Energy Storage (GES) is buying part of the assets of the Stargate Terminal from Gunvor Group in a deal that has been approved by the Port of Rotterdam Authority. GES will develop the new terminal with Gunvor as a long-term partner.
“This project aims to become one of the largest low-carbon developments at a world-class industrial hub, with the potential to significantly reduce the carbon footprint of future business in the Port of Rotterdam,” said Peter Vucins, CEO of GES. “Alongside a new jetty that we aim to develop and low-carbon commodity infrastructure, we are also looking to become part of the logistics chain needed to import blue and green hydrogen.”
GES said that the 20 hectares site includes a significant waterfront with deep water access as well as brownfield development opportunities and the potential for greenfield development. In addition to the development of a new multi-purpose seagoing jetty, the company plans of developing the infrastructure required for biofuels and renewable fuels as well as gas storage. They will also production capabilities for gas to chemicals, green and blue hydrogen, and hydrogen carriers such as ammonia.
“The port is ideally placed for this development, which will bring low-carbon technology to one of the world’s great trading hubs that has taken a leading position in the energy transition with very significant and ambitious developments of its own,” said Vucins.
GES, which was launched in May 2020 by the management team from Global Petro Storage, has a focus on energy transition fuels and fuels-of-the-future. Its strategy is to concentrate on key global hubs, international cross-linked business, and long-term relationships with top-tier energy suppliers.
Eric Arnold, Executive Chairman of GES, added, “This is the first of what we hope will be many deals. We are looking to develop an international network of storage and logistics infrastructure for low-carbon commodities. You can expect to see a rapid expansion across 2021-22.”