Vopak to build ethane tanks to support Thailand's petrochemical production
Vopak has reached a positive final investment decision in expanding its global industrial terminal footprint by constructing 160,000 cubic meters tank infrastructure in Map Ta Phut, Rayong, to support the import of U.S. ethane into Thailand. Vopak’s joint venture entity Thai Tank Terminal signed a landmark 15-year contract with PTT Global Chemical Public Company Limited (GC), a leading global chemicals company, for the storage and handling of ethane in Thailand.
Under this agreement, Thai Tank Terminal will construct a new 160,000 cubic meters tank infrastructure backed by a long term contract and is expected to be completed in 2029.
This ethane infrastructure is strategically important. Ethane will serve as a long term feedstock supply for petrochemical crackers, enhancing cost competitiveness, feedstock security and reinforcing Thailand’s leadership position in the global chemical industry.
As part of Vopak’s investment strategy in Thailand, Vopak plans to allocate approximately EUR 130 million over the next four years related to storage and other infrastructure in the Map Ta Phut region. These investments are not related to any specific project and are expected to provide accretive operating cash return upon commissioning.
Ethane has a lower carbon footprint compared to conventional feedstocks like naphtha, aligning with GC’s commitment to sustainable and responsible operations.
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