MOSCOW (MRC) -- Global Energy Storage (GES) has successfully closed the transaction to acquire part of the Stargate Terminal from Gunvor Group in Europoort, Port of Rotterdam, according to Hydrocarbonprocessing.
GES now owns four Class 1 product tanks totaling over 212,000 m3 with long-term off-take from Gunvor. In addition, GES has acquired the rights to develop approximately 20 hectares of vacant land. Furthermore, it is pursuing expansion projects to support the energy transition, such as import facilities for ammonia, storage for biofuels and feedstock, chemicals, gases, and waste to fuel production.
Peter Vucins, CEO of GES said, “This is an important milestone for GES. The location of this first investment in the heart of the Port of Rotterdam positions us perfectly to significantly contribute to our client’s needs to develop the new storage and logistics infrastructure to facilitate the energy transition, which is upon us and accelerating. Our partnership with Gunvor Group and Port of Rotterdam is vital to our strategy to realize these expansions, as are other strategic partnerships we currently are in discussions with. We hope to revert with some further positive news relatively soon.”
As MRC wrote before, supporting its goal of driving the decarbonization of hydrocarbon processes and the road to net zero emissions, Atlas Copco Gas and Process will be supplying CO2 compression equipment to one of Europe’s most ambitious renewable biofuels plant projects. Thus, the equipment will be used in an 820,000 tpy biofuels facility, located at the Shell Energy and Chemicals Park Rotterdam, the Netherlands (formerly known as the Pernis refinery). Shell announced plans for the facility earlier last fall.
Once completed, the facility will be among Europe’s largest for the production of sustainable aviation fuel (SAF), renewable diesel and renewable naptha made from biowaste. A facility of this size could produce enough renewable diesel to avoid 2.8 MM tons of CO2 emissions a year. That’s the equivalent of taking more than 1 MM European cars off the roads.
We remind that Royal Dutch Shell plans to reduce its refining and chemicals portfolio by more than half, it said in July 2020 without giving a precise timeframe. The move is part of the Anglo-Dutch company's plan to shrink its oil and gas business and expand its renewables and power division to reduce greenhouse gas emissions sharply by 2050.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,487,450 tonnes in 2021, up by 13% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market totalled 1,494.280 tonnes, up by 21% year on year. Deliveries of homopolymer PP and PP block copolymers increased, whreas.shipments of PP random copolymers decreased significantly.