Greenergy has secured deals which will further cement its position as the UK’s biggest provider of wholesale fuels in the UK. The deals with Royal Vopak involve stepping up its involvement at Thames Oilport the site of the former Coryton Oil refinery on the estuary of the River Thames as well as securing further terminal capacity. At Thames Oilport, where it is involved in a joint venture, Greenergy has agreed to buy the one third share owned by Royal Vopak. Shell retains its existing third share.
Coryton had supplied 20% of London and the south east’s fuel but its owner Petroplus collapsed in January 2012 and it ceased production in June that year. The partners are converting the refinery into a fuel storage terminal for import and distribution in UK, but the project has been hit by long delays.
In the statement announcing the deal Greenergy, said work was under way to complete engineering and commissioning work required to bring into use an initial 175,000 cubic metres of tankage at Thames Oilport.
It added: "This tankage will be used by Greenergy for diesel storage from the second quarter of 2016, connecting the Thames market to deep-water, long-haul diesel capability. This is a major development that will bring oil into Thames Oilport for the first time since the closure of the Coryton refinery."
Greenergy chief executive Andrew Owens said: "The continued development of Thames Oilport is strategically important for Greenergy. These are significant steps towards the realisation of a new, fully-operational fuel import and distribution terminal at this location. We look forward to working in the new ownership structure with our co-partner Shell."