The Northern Territory Government and Vopak sign MoU to cooperate on common user CO2 infrastructure hub in Australia
Source: GlobeNewswireThe Northern Territory Government and Vopak sign MoU to cooperate on common user CO2 infrastructure hub in Australia
5 August 2024, Australia
On 31 July 2024, the Northern Territory Government and Vopak signed a memorandum of understanding (MoU), to develop a common-user infrastructure including a CO2 import terminal in the Middle Arm Sustainable Development Precinct - Northern Territory, Australia.
The MoU frames how the government and Vopak will cooperate to progress the development of common user CO2 import, storage and handling infrastructure in Darwin.
“The Lawler Labor Government is committed to developing the Middle Arm Sustainable Development Precinct, strategic industrial land to accommodate advanced manufacturing and green energy production. CCUS capability is a core component of the circular economy design of this Precinct. I am excited to be partnering with Vopak who have been contributing to the energy security and economic development of the Northern Territory with their operations in East Arm for almost 20 years. This project contributes to the NT’s goal of a $40 billion economy by 2030 and our transition to net zero by 2050. This agreement leverages Vopak’s global expertise in developing infrastructure solutions to accelerate the energy transition worldwide,” said Eva Lawler, Chief Minister of The Northern Territory.
“For nearly 20 years, Vopak has been contributing to the energy security and economic development in East Arm near Darwin city. This project not only signifies our ongoing commitment to growth but also contributes to playing a role in decarbonisation ambitions for both the Northern Territory and Australia. Together with the Northern Territory Government, we look forward to playing a key role in Australia's transition to net zero. This development of CO2 infrastructure is fully in line with Vopak's global strategy to develop infrastructure solutions to accelerate the energy transition,” said Paul Kanters, Managing Director, Vopak Terminals Australia.
Common user CO2 facility
The CO2 import, storage and handling infrastructure will be designed to manage the import, storage and distribution of carbon dioxide in an efficient and accessible way. The facility will be shared infrastructure that can be used by various companies to help manage CO2 emissions. The imported CO2 can come from different sources such as industrial plants that capture CO2 to prevent it from being released to the atmosphere. Also CO2 from neighbouring countries can be handled. Once the CO2 is imported, it needs to be stored safely in large tanks before it will be transferred to a permanent destination, for example in underground facilities CCS, or followed by recycling the CO2 for utilization (CCUS).
About Royal Vopak
Royal Vopak helps the world flow forward. At ports around the world, we provide storage and infrastructure solutions for vital products that enrich everyday life. These products include liquids and gases that provide energy for homes and businesses, chemicals for manufacturing products, and edible oils for cooking. For all of these, our worldwide network of terminals supports the global flow of supply and demand. For more than 400 years, Vopak has been at the forefront of fundamental transformations. With a focus on safety, reliability, and efficiency, we create new connections and opportunities that drive progress. Now more than ever, our talented people are applying this mindset to support the energy transition. Together with our partners and customers, we are accelerating the development of infrastructure solutions for hydrogen, ammonia, CO₂, long-duration energy storage, and low-carbon fuels & feedstocks – paving the way to a more sustainable future. Vopak is listed on the Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. For more information, please visit www.vopak.com
For more information please contact:
Press and Analysts/Investors
Vopak Press: Alexis Oh - Regional Communications Manager (Asia & Middle East)- alexis.oh@vopak.com
Vopak Press: Liesbeth Lans - Manager External Communication - global.communication@vopak.com
Vopak Analysts and Investors: Fatjona Topciu - Head of Investor Relations- investor.relations@vopak.com
Commercial & Partnership Information
Patricia Lim - Vopak Australia Commercial & Business Development Director
patricia.lim@vopak.com
Attachment
- Vopak News Release Australian Northern Territory Government and Vopak sign MoU on CO2 infrastructure
