Vopak's role in different value chains

We provide storage and handling services to two principal end markets: energy and manufacturing. Vopak’s role is to be a strong link in customers’ supply chains. Our terminals play a key role in supplying vital products to people and communities around the world. Today, Vopak has four terminal types: gas, industrial, chemicals and oil. Some of these terminal types already store and handle new energies and sustainable feedstocks, and in the future the share of sustainable products will increase at all existing facilities in addition to greenfield developments for new energies and sustainable feedstocks.

Gas terminals

We are expanding our gas storage to contribute to energy security, as well as meeting increased demand for gas as a cleaner conventional fuel. We thereby provide vital infrastructure for this rising gas trade, where demand is growing especially from the power, residential and petrochemical sectors. 

Industrial terminals

Petrochemical clusters are growing in scale. Clusters are also looking for new infrastructure solutions as they are exploring decarbonization options. This makes logistics integration even more crucial. Many petrochemical clusters adopt the ‘industrial terminal’ model. An industrial terminal (ITL) typically has a single terminal operator serving multiple plants, providing storage for both feedstocks and rundown products, with an optimized terminal infrastructure and logistics. The business segment is stable with long term dedicated infrastructure to serve manufacturing in industrial clusters around the world.

Chemical terminals

Vopak operates a global network of chemical terminals; we have a strong presence in key hub locations. These terminals serve petrochemical producers and traders by facilitating exports and imports as well as make-bulk and break-bulk of various types of chemicals (from bulk to specialty chemicals) that go into products used in our everyday lives.

Oil terminals

Vopak operates oil hub terminals located strategically along major shipping routes, where suppliers, customers and traders are active. We also play an important role in ensuring countries with structural oil supply deficits have adequate access to energy imports. 

In line with our strategy to grow in Industrial and Gas terminals, it is Vopak’s ambition to continue to reduce the percentage of Oil assets in total proportional Capital Employed. We are seizing opportunities to shape the energy transition, as exemplified by biofuel blending in marine fuels. The growing interest in low carbon fuels is also underlined by investment to repurpose oil capacity for the use of Sustainable Aviation Fuel and renewable diesel.

Products we store

We store and handle a variety of liquid and gas products. These include:

  • Chemicals (e.g. methanol, xylenes, styrene, alpha olefins, mono-ethylene glycol (MEG));
  • Gas (e.g. LNG, LPG, ethylene, butadiene, ammonia);
  • Oil products (crude oil, fuel oil, diesel, jet fuel, gasoline, naphtha);
  • Vegoils and biofuels (e.g. ethanol, biodiesel, sustainable aviation fuel).

Our customers

Our customers are producers, manufacturers, distributors, governments and traders. They include leading international, regional and national chemical and energy companies. Most of our customers have been with us for several decades. Vopak’s terminals connect directly with national grids and distribution networks. In many cases, we handle feedstock (products processed in industrial processes); in others, products go directly to end-users. Vopak’s role is to be a strong link in customers’ supply chains. Much of our business is long term: typically, contracts for gas and industrial terminals last 5-20 years.

Storage and handling contracts in the liquid tank terminal industry are normally a service and not a lease. Read more about this topic: USGAAP (Topic 842 'Leases') and IFRS 16

Our suppliers

Our suppliers vary from global qualified vendors, used for equipment and IT automation, to local service and construction suppliers. We aim for long-term partnerships and ensure continuous improvement on quality, efficiency and safety. In line with our Sustainability Policy and Code of Conduct, our suppliers, contractors (and their sub-tier suppliers and contractors) adhere to our Supplier Code.