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
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
