Royal Vopak, Greenergy and Shell UK 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.
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.
Vopak, Greenergy and Shell will be equal shareholders of the new joint venture, which will acquire and develop the assets and the site.
The terminal will play an important role in ensuring a secure supply of oil products to the UK, enabling large import volumes. The investment will be used to convert components of the current refinery for use as a class-leading import terminal. This will involve operational, technical and environmental enhancements.