Greenergy to purchase Vopak’s share of Thames Oilport and Thames Enterprise Park
21st December 2015
Greenergy has reached agreement with Royal Vopak to purchase its one third share in the joint venture that owns Thames Oilport and Thames Enterprise Park. Shell retains its existing third share.
Greenergy’s purchase of Vopak’s shares follows a number of other recent developments at the site.
At Thames Oilport, work is underway to complete engineering and commissioning work required to bring into use an initial 175K cbm of tankage at Thames Oilport. This tankage will be used by Greenergy for diesel storage from the 2nd quarter 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 Coryton refinery.
At Thames Enterprise Park, the sale of up to 403 acres of land not required for the oil terminal is progressing well. Response to the sale process has been positive, with significant interest, and discussions are underway with a shortlist of potential purchasers. Demolition of former refinery infrastructure is well underway to prepare excess land for alternative uses and a sale is expected in the first half of 2016.
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.”