Oiltanking Antwerp Gas Terminal NV announces the signing of a long-term agreement with INEOS for the storage and handling of butane that will serve as feedstock for the INEOS cracker in Cologne, Germany. The terminal will expand its capacity by almost 100 percent.
As part of the agreement, Oiltanking Antwerp Gas Terminal will make substantial investments to ensure the highest level of operational excellence, including the construction of a 135,000 cbm fully refrigerated butane tank--the largest in Europe.
Similar to the other cracker feedstock, naphtha, which Oiltanking already stores for INEOS under a long-term agreement at Oiltanking Ghent, the butane cracker feedstock will arrive at the Antwerp, Belgium, terminal by seagoing vessel (up to VLGC size, Very Large Gas Carriers) for intermediate storage. From there, it will be shipped by barges via the Rhine River to the INEOS facility in Cologne. This storage and handling solution will provide INEOS increased flexibility and security of supply enabling INEOS to optimize the related supply chain.
Oiltanking’s acquisition of the Antwerp Gas Terminal last year was part of the company’s pro-active strategic reaction to changing global requirements for energy and feedstocks. Being integrated into the logistical chain of one of the word’s leading chemical companies fits perfectly in Oiltanking’s long term strategic plan.