Vopak expands ethane storage with Thai Tank Terminal agreement

Vopak has announced a major expansion of its global industrial terminal network, following a final investment decision to construct a 160,000 cubic metre tank infrastructure in Map Ta Phut, Rayong, Thailand. The investment supports the import of U.S. ethane into Thailand and is backed by a landmark 15-year storage and handling agreement between Vopak’s joint venture, Thai Tank Terminal, and PTT Global Chemical Public Company Limited (GC).

The newly constructed facility, expected to be completed by 2029, will play a crucial role in enhancing Thailand’s position in the global chemical industry. Ethane, a key feedstock for petrochemical crackers, will improve cost efficiency and feedstock security while supporting sustainable industrial growth. The infrastructure will be integrated into Map Ta Phut, Thailand’s largest industrial port, ensuring a reliable supply chain for the region’s petrochemical sector.

Vopak plans to invest approximately EUR130 million (USD141 million) in storage and infrastructure development across Map Ta Phut over the next four years. These investments, independent of any single project, are expected to yield long-term operational cash returns.

Supporting the energy transition

Ethane is considered a more sustainable alternative to conventional feedstocks such as naphtha, aligning with GC’s commitment to responsible operations and environmental sustainability.

Thai Tank Terminal (TTT), a joint venture between GC, Gulf Energy Development Public Company Limited, and Vopak Holding International B.V., provides storage and logistics solutions for liquid chemicals and gases. With Vopak holding a 35% stake in TTT, the collaboration strengthens the company’s foothold in Southeast Asia’s growing petrochemical market.

PTT Global Chemical Public Company Limited was established as a public company on 19 October 2011, serving as the chemical flagship of PTT Group. Since its inception, GC has positioned itself as a leader in the sector, integrating olefins and aromatics production with crude oil and condensate refining. As Thailand’s largest integrated petrochemical and refining business, GC continues to drive innovation and expansion in the industry.

Industry leadership and future growth

Vopak’s expansion aligns with its broader strategy to support global industrial transformation and the energy transition. The company has a strong legacy of providing storage solutions for essential commodities, including fuels, chemicals, and gases. With a focus on safety, reliability, and efficiency, Vopak continues to drive infrastructure innovation, particularly in emerging markets.

This agreement marks a key milestone in developing next-generation industrial storage solutions that contribute to sustainable chemical production and supply chain efficiency in Thailand and beyond.