ConocoPhillips has signed an agreement to secure additional regasification capacity at the Gate LNG terminal in the Port of Rotterdam.
‘Adding capacity at the Gate LNG terminal fits well with our efforts to deliver reliable, lower-carbon energy into Europe from highly competitive LNG supply,’ said Bill Bullock, executive vice president and chief financial officer of ConocoPhillips.
The Gate Terminal, which is a joint venture between Vopak and Gasunie, began operations in 2011, supplying natural gas to the Netherlands and the wider northwest European market. ConocoPhillips’ 15-year throughput agreement for approximately 1.5 million tonnes per annum (MTPA), or 2 BCM equivalent, begins in September 2031.
As previously reported by Bunkerspot, in August Gate terminal and its shareholders, Gasunie and Vopak, announced that the final investment decision (FID) has been taken to expand Gate terminal’s storage and regasification capacity. The expansion consists of a new LNG storage tank of 180,000 cubic metres (cbm) and additional regasification capacity of 4 billion cbm (bcm) of natural gas per year, bringing the total capacity of Gate to 720,000 cbm with a regasification capacity of 20 bcm per year.
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