GES to buy Gunvor Rotterdam site for low-carbon fuel terminal

Global Energy Storage plans to convert an oil terminal at the Port of Rotterdam in the Netherlands into a low-carbon fuels facility, the company said in a statement Nov. 11.

GES is buying part of the Stargate Terminal from Gunvor to develop a terminal for hydrogen, ammonia, biofuels and gas, it said.

The company plans to develop a new jetty as it eyes hydrogen imports to the port.

"Our vision is to take an existing oil terminal and develop it into a state-of-the-art low-carbon products terminal," GES CEO Peter Vucins said. "This development is the first stage of our plans for an international network of infrastructure, serving the energy transition needs of our customers."

The terminal has deepwater access, with the potential to develop brownfield and greenfield sites.

GES plans to develop storage for biofuels, and other renewable fuels and gas, as well as infrastructure for hydrogen and derivatives such as ammonia. It is also looking at gas to chemicals production infrastructure, it said.

"This project aims to become one of the largest low-carbon developments at a world-class industrial hub, with the potential to significantly reduce the carbon footprint of future business in the Port of Rotterdam," Vucins added.

S&P Global Platts assessed conventional ammonia cargo prices, CFR Rotterdam, at $845/mt Nov. 10. Prices in exporting regions such as the Middle East were assessed at $710/mt FOB.

GES launched in May, with a focus on energy transition fuels and related services in global strategic hubs. The deal with Gunvor has been formally approved by the port authority, GES said.

Gunvor will remain a long-term partner with GES in Rotterdam, it said.

"This deal is in line with Gunvor's strategy to support the advancement of energy transition initiatives at our key asset locations," global head of portfolio at Gunvor Group Shahb Richyal said in the statement.