Thai Tank Terminal and PTT Global Chemical sign ethane storage agreement

Vopak’s joint venture entity Thai Tank Terminal signed a landmark 15-year contract with PTT Global Chemical Public Co. Ltd (GC), a leading global chemicals company, for the storage and handling of ethane in Thailand.

Under this agreement, Thai Tank Terminal will construct a new 160 000 m³ tank infrastructure backed by a long-term contract and is expected to be completed in 2029.

This ethane infrastructure is strategically important. Ethane will serve as a long-term feedstock supply for petrochemical crackers, enhancing cost competitiveness, feedstock security, and reinforcing Thailand’s leadership position in the global chemical industry.

As part of Vopak’s investment strategy in Thailand, Vopak plans to allocate approximately €130 million over four years related to storage and other infrastructure in the Map Ta Phut region. These investments are not related to any specific project and are expected to provide accretive operating cash return upon commissioning.

Ethane has a lower carbon footprint compared to conventional feedstocks like naphtha, aligning with GC’s commitment to sustainable and responsible operations.

Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/06032025/thai-tank-terminal-and-ptt-global-chemical-sign-ethane-storage-agreement/