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Over the last decade, Vopak has focused on growing a well-diversified global network and on further professionalizing its operational and commercial processes on a step-by-step basis. This growth orientation combined with a relentless drive on safety and service enabled Vopak to build today’s leadership position in the independent tank storage market.
In light of the changing energy and petrochemical landscape and a continuing economic shift from West to East, Vopak's selective growth going forward will be conducted along its defined terminal portfolio criteria. These apply for both aligning and strengthening our existing terminals as well as for our business development focus for new locations. Vopak has defined the following criteria:
- major hubs, supporting intercontinental products flows;
- terminals facilitating growth in global gas markets;
- import distribution terminals in major markets with structural deficits;
- industrial and chemicals terminals, in the Americas, the Middle East and Asia.
Accordingly, Vopak initiated a divestment program of around 15 primarily smaller terminals with the objective to further aligning its global network. The early selection of growth projects on the basis of the criteria stated above will further ensure the quality of projects under development. The divestment program and business development focus will lead to a gradual shift of Vopak’s portfolio of terminals towards robust growth markets in the coming years.