Joint venture to develop liquefied natural gas (LNG) terminal near Marseille

abarrelfull wrote on 07 May 2012 13:58
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16 July 2009

Shell and Vopak today announced a joint venture to develop a liquefied natural gas (LNG) terminal at Fos-sur-Mer, France. Vopak LNG Holding B.V. will become the main shareholder with a 90% share in the joint venture, the Fos Faster LNG Terminal S.A.S., and Société des Pétroles Shell will hold the remaining 10%.
Fos Faster will be developed as part of the expansion strategy of the Grand Port Maritime de Marseille and in close cooperation with the Port Authority.

The joint venture combines the experience of Vopak in tank terminal development and operations with Shell’s position as the largest equity shareholder of LNG capacity among international oil companies.

As previously announced by Shell the Fos Faster LNG terminal has an initial planned capacity of around 8 billion cubic meters of gas per year, more than 15% of the current annual gas consumption of France. Subject to market demand, permitting and approval processes the terminal could commence operations around the middle of the next decade.

The proposed terminal would further enhance gas supply diversification by providing France and Europe access to new sources of natural gas.

Fos Faster LNG terminal will be positioned as an independent multi-customer terminal. The business model of the terminal will be similar to the Gate terminal currently under construction in Rotterdam.

The Fos Faster project fits Vopak’s ambition to establish a network of LNG terminals providing alternative sourcing opportunities for the European markets, through strategically located terminals connected with the main natural gas grids.

• Joint venture to develop liquefied natural gas (LNG) terminal near Marseille

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