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Wednesday, 12 July 2017

European Commission approval for Gasunie, Oiltanking and Vopak to set up Joint Venture to develop LNG Terminal in Northern Germany

Royal Vopak    

Published: 14:30 CEST 12-07-2017 /GlobeNewswire /Source: Royal Vopak / : VPK /ISIN: NL0009432491

European Commission approval for Gasunie, Oiltanking and Vopak to set up Joint Venture to develop LNG Terminal in Northern Germany

Gasunie LNG Holding B.V., Oiltanking GmbH, and Vopak LNG Holding B.V. have acquired the approval under the EU Merger Regulation to establish a joint venture for owning and operating a liquefied natural gas (LNG) terminal in Northern Germany. This decision is a milestone within the feasibility study, the companies are currently conducting.

The three companies are jointly investigating the possibilities for constructing and operating a multi-service LNG terminal (including import and small scale services) in Northern Germany. The location under investigation is Brunsbüttel along the Elbe river close to the city of Hamburg. This positive decision of the European Commission is an important milestone in developing a LNG facility in Northern Germany. The feasibility study consists of economic, technical, nautical and regulatory assessments as well as the permits procedures. Now that the EC approval is in place, the parties are ready to jointly work towards the next development phases. No financial investment decisions have been taken yet.

Company profiles

N.V. Nederlandse Gasunie is a European gas infrastructure company. The company provides the transport of natural gas and green gas via its subsidiaries Gasunie Transport Services B.V. (GTS) in the Netherlands and Gasunie Deutschland in Germany. The company also offers other services in the gas infrastructure field, including gas storage and LNG.

Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Oiltanking is one of the largest independent tank storage providers for petroleum products, chemicals and gases worldwide. The company owns and operates 79 terminals in 24 countries within Europe, North and South America, Middle East, Africa, India as well as in Asia. Oiltanking has an overall storage capacity of 21 million cbm.

Royal Vopak is the world's leading independent tank storage company. Vopak operates a global network of terminals located at strategic locations along major trade routes. With a 400-year history and a strong focus on safety and sustainability, Vopak ensures efficient, safe and clean storage and handling of bulk liquid products and gases for its customers. By doing so, Vopak enables the delivery of products that are vital to our economy and daily lives, ranging from oil, chemicals, gases and LNG to biofuels and vegoils. Vopak is listed on the Euronext Amsterdam stock exchange and is headquartered in Rotterdam, the Netherlands. Including joint ventures and associates, Vopak employs an international workforce of over 5,500 people. Vopak operates 67 terminals in 25 countries with a combined storage capacity of 35.7 million cbm, with another 2.8 million cbm under development, to be added before the end of 2019.

For more information, please visit www.gasunie.com, www.oiltanking.com, www.marquard-bahls.com, and www.vopak.com


For inquiries, please contact:

Gasunie
Chris Glerum
Manager External Communications
Tel: +31 6 55376092
press@gasunie.nl

Marquard & Bahls AG (Oiltanking)

Katja Freitag

Head of Representative Office Berlin

Marquard & Bahls AG

Tel: +49 30 20642-975

katja.freitag@marquard-bahls.com

Vopak - Media
Liesbeth Lans
Manager External Communication
Tel: +31 (0)10 4002777
global.communication@vopak.com

Vopak - Analysts and investors
Anil Acardag
Investor Relations Manager
Tel : +31 (0)10 4002776
investor.relations@vopak.com



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This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Royal Vopak, Westerlaan 10, ROTTERDAM 3016 CK, NETHERLANDS
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