Published by Global Banking & Finance Review®
Posted on March 6, 2025
2 min readLast updated: January 25, 2026
Add as preferred source on GoogleVopak will expand its Thailand terminal for US ethane imports by 2029, partnering with PTTGC and Gulf Energy to construct significant storage capacity.
SINGAPORE (Reuters) - Global independent storage operator Vopak said on Thursday that it will expand its joint-venture terminal in Thailand to handle U.S. ethane imports for state energy firm PTT Global Chemical from 2029.
Petrochemical firms across Asia, led by China, are planning to ramp up imports of cheaper ethane flowing from the U.S. shale gas boom to diversify raw material supply and lower costs.
Thai Tank Terminal - a joint venture between PTTGC, Gulf Energy Development and Vopak - will construct 160,000 cubic metres of tank storage in Map Ta Phut, Rayong, according to Vopak.
The JV, which provides storage and logistics infrastructure for liquid chemicals and gases, has also signed a 15-year contract with PTTGC for the storage and handling of ethane in Thailand.
The project is part of Vopak's investment strategy in the country to allocate 130 million euros ($120.4 million) over the next four years related to storage and other infrastructure in the Map Ta Phut region.
Separately, PTT signed on Wednesday long-term charters for two Very Large Ethane Carriers (VLEC) with Malaysian shipping firm MISC.
The vessels will be constructed by HD Hyundai Heavy Industries and are scheduled for delivery by the end of 2028, MISC said in a statement.
($1=0.926236 euros)
(Reporting by Florence Tan; Editing by Sherry Jacob-Phillips)
The article discusses Vopak's plan to expand its terminal in Thailand to handle US ethane imports starting in 2029.
The expansion involves Vopak, PTT Global Chemical, and Gulf Energy Development.
Vopak plans to invest 130 million euros over the next four years in Thailand.
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