Vopak has made a positive final investment decision to expand its global industrial terminal network by constructing a 1,60,000-cubic-meter tank infrastructure in Map Ta Phut, Rayong. The development will support the import of U.S. ethane into Thailand.
Vopak’s joint venture entity, Thai Tank Terminal, has secured a 15-year contract with PTT Global Chemical Public Company Limited (GC), a global chemicals company. Under the agreement, Thai Tank Terminal will build and operate the new ethane storage and handling facility.
Strategic Importance of the Ethane Infrastructure
The ethane infrastructure will strengthen Thailand’s position in the global chemical industry. It will serve as a long-term feedstock supply for petrochemical crackers, enhancing cost competitiveness and ensuring feedstock security. The project is expected to be completed by 2029.
Vopak’s Investment Strategy in Thailand
Vopak plans to allocate approximately €130 million over the next four years for storage and other infrastructure in the Map Ta Phut region as part of its broader investment strategy. Independent of any single project, the investments will contribute to operational growth and are expected to generate strong cash returns upon commissioning.
Sustainability and Environmental Benefits
Ethane offers a lower carbon footprint than traditional feedstocks like naphtha. As per the press release, by utilizing ethane, GC advances its commitment to sustainability and responsible operations, aligning with global efforts to reduce carbon emissions.
