Navigator Terminals – the UK’s largest independent bulk liquid storage company

Greenergy has also reached agreement with Royal Vopak to purchase its one third share in the joint venture that owns Thames Oilport and Thames Enterprise Park. (Shell retains its existing third share). New engineering work carried out at the Thames Oilport allow the storage of diesel to commence next year

Greenergy has also reached agreement with Royal Vopak to purchase its one third share in the joint venture that owns Thames Oilport and Thames Enterprise Park. (Shell retains its existing third share). New engineering work carried out at the Thames Oilport will allow the storage of diesel to commence next year

Macquarie Capital and Greenergy are to establish Navigator Terminals through acquisition of Royal Vopak’s UK operating storage assets and Greenergy North Tees

Behind Navigator Terminals (Navigator) are Macquarie Capital and Greenergy which have partnered to acquire Royal Vopak’s UK storage facilities at West Thurrock on the Thames, Seal Sands at Teesside and Windmill near Cardiff. Simultaneously, Navigator will also acquire the operational storage assets of Greenergy North Tees at Teesside.

These acquisitions will give Navigator an initial storage capacity of approximately 1.5 million cubic meters, making it the UK’s largest independent bulk liquid storage provider. Each terminal is strategically located in an area of significant regional demand.

“Our participation in Navigator ensures our continued access to the infrastructure assets that currently underpin our UK supply position,” says Andrew Owens, Greenergy chief executive.

“It gives us greater flexibility at these facilities, ensuring we will be best placed to deliver low cost and resilient fuel supply for our customers in the long-term. As an infrastructure investment company, Navigator will also provide a vehicle to fund further infrastructure acquisitions supporting our continued growth in the fuels sector.”

Neil Arora, senior managing director, Macquarie Capital said:  “Greenergy is the leading provider of wholesale fuels in the UK and uniquely placed to lead investment in the UK storage sector. We are delighted to partner with Greenergy to establish Navigator Terminals. This transaction is another example of the flexible, partnership capital Macquarie Capital is able to deploy to support clients globally.”

There are no plans to change existing operations or management and staff of the terminals. Navigator will continue to provide ongoing fuel, crude oil and chemical storage for a wide range of customers at the terminals. Greenergy will continue as principal customer of Navigator for fuel storage at the West Thurrock and Teesside terminals. Navigator is committed to maintaining the highest standards of safety across its operations and will combine the best of Vopak’s and Greenergy’s safety systems and culture at all facilities.

As part of the transaction Greenergy has entered into long-term off take agreements with Navigator at West Thurrock, Seal Sands and North Tees, where it currently stores and supplies fuel. In addition, Navigator has committed to build a new diesel pipeline to link the deep water jetty at North Tees with the neighbouring Seal Sands terminal, further integrating these two facilities and increasing operational efficiencies for the benefit of all customers.

The acquisitions are scheduled to complete towards the end of the first quarter 2016.

 

www.greenergy.com

www.macquarie.com

 

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