Vopak and Shell to develop French LNG terminal

Shell and Vopak announced a joint venture to develop a liquefied natural gas (LNG) terminal at Fos-sur-Mer, France. Vopak LNG Holding will become the main shareholder with a 90 % share in the joint venture, the Fos Faster LNG Terminal, and Societe des Petroles Shell will hold the remaining 10 %.
Fos Faster will be developed as part of the expansion strategy of the Grand Port Maritime de Marseille and in close cooperation with the Port Authority.

The joint venture combines the experience of Vopak in tank terminal development and operations with Shell's position as the largest equity shareholder of LNG capacity among international oil companies.
As previously announced by Shell the Fos Faster LNG terminal has an initial planned capacity of around 8 bn cm of gas per year, more than 15 % of the current annual gas consumption of France. Subject to market demand, permitting and approval processes the terminal could commence operations around the middle of the next decade. The proposed terminalwould further enhance gas supply diversification by providing France and Europe access to new sources of natural gas.

Fos Faster LNG terminal will be positioned as an independent multi-customer terminal. The business model of the terminal will be similar to the Gate terminal currently under construction in Rotterdam. The Fos Faster project fits Vopak's ambition to establish a network of LNG terminals providing alternative sourcing opportunities for the European markets, through strategically located terminals connected with the main natural gas grids.
Royal Vopak (Vopak) is the world's largest independent tank terminal operator specializing in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals.

Vopak operates 80 terminals with a storage capacity of around 27 mm cm in 32 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.
Royal Dutch Shell is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 100 countries and territories with businesses including oil and gas exploration and production; production and marketing of Liquefied Natural Gas and Gas to Liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.