November 13, 2013 [Platts] - The Vopak-operated Thames Oilport, formerly the Coryton refinery and set to be an oil products import terminal, is on track to start operations before the end of the year, a spokesman for Vopak said Tuesday.
Thames Oilport is expected to become a major part of the UK’s fuel import infrastructure. The UK is a large importer of gasoline, jet fuel and ultra low sulfur diesel, and Thames Oilport sits near the country’s largest demand center.
Most import terminals along the Thames are near full capacity and Thames Oilport will provide welcome relief as well as the ability to take larger ships, which have become more commonplace in recent years.
“The first product [cargo] will enter the facility before the end of the year,” a spokesman for Vopak said.
Coryton ceased refining in June 2012 after Petroplus, its owner, went bankrupt. Vopak, Greenergy and Shell bought the refinery at the time, planning to convert it into an import and storage terminal.
“The place is nearly ready, but needs to be commissioned,” said a products trader at a firm with equity in the terminal. “It is more a case of making sure the tanks, line, rack and berths are in full working conditions, so currently the project should be operational by the end of the year.”
A second trader who regularly imports refined products into the Thames said the launch of the terminal had been delayed slightly because of problems with electrics.
The London Gateway port for dry bulk goods officially opened last week and will significantly increase the Port of London’s handling capacity. Built on the site of the former Shell Haven refinery, it is next to Thames Oilport.
