Independent energy storage company, Global Energy Storage (GES) is set to buy an interest in part of the assets of Gunvor Group (Gunvor)’s Stargate Terminal. In addition to the deal, GES will develop more than 20 hectares at the port.
The development will include a multi-purpose seagoing jetty, in addition to the creation of infrastructure to support:
- · Consolidation of biofuel storage
- · Storage for renewable fuels
- · Gas storage
- · Gas to chemicals production
- · Green and blue hydrogen
- · Hydrogen carriers such as ammonia
Having only been in existence since May of this year, the deal marks the first of GES’ energy deals.
The company was set up by the management team at energy and chemical assets developer Global Petro Storage (GPS) as a organisation with an ‘exclusive focus’ on energy transition fuels.
Stating that the project’s aim is to become ‘one of the largest’ low-carbon developments at a world-class industrial hub, Peter Vucins, CEO, GES, added that the company is also looking to significantly reduce the carbon footprint of future business in the Port of Rotterdam – Europe’s largest port.
“We are also looking to become part of the logistics chain needed to import blue and green hydrogen. I hope this gives a glimpse of the size of our ambitions.”
The company will partner with Gunvor to further develop sustainable projects in Rotterdam.
Hoping that the partnership is the first of many, Eric Arnold, Executive Chairman, GES, added, “This is the first of what we hope will be many deals. We are looking to develop an international network of storage and logistics infrastructure for low-carbon commodities. You can expect to see a rapid expansion across 2021-22.”