May 09, 2024 [Tank Storage]- VTTI is set to acquire Ancala’s 50% share of Dragon LNG. The terminal consists of LNG receiving, storage, reliquefication, regasification and send-out facilities. The remaining 50% will be held by Shell.
The Dragon LNG and Dragon Energy regasification terminal is one of three LNG terminals in the UK. The facility supplies up to 9 billion cubic metres to the UK’s transmission system, approximately 10% of the UK’s annual gas demand.
‘As part of VTTI’s Strategy 2028, we are committed to expanding and enhancing LNG regasification infrastructure globally. Our aim is that half of our portfolio is in transitional and sustainable energy sources by 2028. Following the recent agreement in Italy to acquire 70% equity stake in Adriatic LNG and the ongoing development of a new LNG import facility in Vlissingen in the Netherlands, this acquisition reflects our commitment to diversify into LNG as a transitional energy source. We are looking forward to partner with Shell to ensure that Dragon LNG continues to operate in a safe and reliable manner while accelerating its decarbonisation and growth path,’ says Guy Moeyens, CEO of VTTI.
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