Essex: Vopak, Greenergy and Shell set out plans for Coryton

27th June 2012

Royal Vopak, Greenergy, and Shell UK Limited have confirmed that they plan to develop and invest in a state-of-the-art import and distribution terminal to be managed by Vopak at the former Coryton refinery site.

Forecourt Trader reports: The facility will be the UK’s first deep water fuel import terminal, allowing diesel to be brought into the UK cost-effectively. The initial storage capacity will be around 500,000 cubic meters (cbm), with potential to expand to up to one million cbm in later stages.

Vopak, Greenergy and Shell will be equal shareholders of the new joint venture, which will acquire and develop the assets and the site. After reaching final agreement on the future design and operational capabilities, Vopak, on behalf of the joint venture, will execute the development of this new facility and will operate the terminal when the works have been completed. Greenergy and Shell will sign long-term contracts with the joint venture.

The deep water import terminal will play an important role in ensuring a secure supply of oil products to the UK, enabling large import volumes.