Vopak

Name

Vopak

Legal name

Koninklijke Vopak N.V.

Website

https://vopak.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Tank Storage and Port Terminal Infrastructure

NAICS

Petroleum Bulk Stations and Terminals (424710)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Crude Oil & Condensate Terminals (Tank Farms, Marine/Truck/Rail Loading) (EUALAEAA)

akta.pro secondary industries

Liquid Bulk Petroleum Terminals (Crude, Refined Products) (TLAHABAH), NGL/LPG Storage & Fractionation Terminals (TLAGAKAE), Refined Products Tank Farms & Terminals (TLAGAKAB), Chemical Tank Farms & Bulk Liquid Chemical Storage (TLALAHAH), LPG / NGL Terminals (Pressurized/ Refrigerated Gas) (TLAHABAK)

Keywords

• Tank storage services
• LNG terminal operations
• Chemical storage infrastructure
• Energy transition infrastructure
• Port terminal operations

Headquarters

HQ city

Rotterdam

HQ country

Netherlands

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Terminal Storage Concessions: Vopak generates revenue primarily through long-term concession agreements to design, build, finance, operate, and maintain port terminals. Revenue is underpinned by capacity reservations, throughput fees, and storage charges under contracts typically spanning 20-25 years.
2. Storage and Throughput Services: Core business involves charging customers for the storage of essential products (liquids, gases, chemicals) at Vopak terminals, with revenue driven by occupancy rates (91% reported in Q1 2026) and volume throughput.
3. Growth Project Contributions: New capacity expansions across the Netherlands, India, Canada, South Africa, UAE, and Oman contribute incremental EBITDA, with 24 growth projects under construction involving EUR 1.3 billion in investment projected to deliver rising EBITDA contributions from EUR 20M in 2025 to EUR 112M in 2027.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Vopak operates a global network of port-based tank terminals that provide storage and handling services for essential liquid and gas products. Its core offerings include LNG import and regasification terminals, petroleum and chemical storage, edible oils storage, and emerging infrastructure for hydrogen, ammonia, CO2, battery energy storage, and sustainable feedstocks, delivered under long-term concession agreements with governments, utilities, and industrial customers.

Product overview

Vopak is a port terminal operator providing storage and infrastructure solutions for essential liquid and gas products worldwide. The company operates a network of terminals across multiple countries, offering storage services for: (1) energy products (LNG terminals, gas infrastructure) for power generation and industrial use, (2) chemicals for manufacturing, and (3) edible oils. Vopak is transitioning to support the energy transition through infrastructure for hydrogen, ammonia, CO2, battery energy storage, and sustainable feedstocks. The portfolio includes joint ventures such as EemsEnergyTerminal (LNG in Netherlands), Zululand Energy Terminal (South Africa), and various chemical and oil terminals globally.

Differentiator

Problem solved

Functional benefit

Products and services

• LNG Storage and Terminal Services Liquefied natural gas import terminals providing storage, regasification, and distribution infrastructure for natural gas supply to electricity generation and industrial sectors.
• Chemical Storage Terminals Storage terminals for chemical products used in manufacturing, part of Vopak's global network of liquid bulk storage facilities.
• Edible Oils Storage Storage services for edible oils as part of Vopak's essential products storage infrastructure supporting global food supply chains.
• Petroleum Storage and Bunkering Petroleum storage and bunkering services provided through terminals such as Vopak Horizon Fujairah, a major oil storage and bunkering terminal located at Fujairah port, a key hub outside the Strait of Hormuz.
• EemsEnergyTerminal FSRU-based LNG import terminal in Eemshaven, Netherlands, operated as a Gasunie and Vopak joint venture, with combined storage of approximately 190,000 cbm LNG via two Exmar-owned FSRUs and regasification capacity of 1,350 million scfd. Operations extended to 2036.
• Zululand Energy Terminal (ZET) South Africa's first LNG import terminal at Port of Richards Bay, developed as a joint venture between Vopak Terminal Durban and Transnet Pipelines. Two-phase development with Phase 1 involving floating storage unit and regasification, Phase 2 expanding to onshore storage with send-out capacity up to 600 mmscfd.
• Duqm Energy Park New energy park at Port of Duqm, Oman, developed as joint venture with Oman Tank Terminal Company (OTTCO). Initial focus on conventional fuels with planned expansion to green energy carriers including hydrogen and ammonia.
• Hydrogen Import Infrastructure Infrastructure for hydrogen storage, handling, and import as part of Vopak's energy transition focus, including the ACE hydrogen import terminal in Rotterdam developed with Gasunie and HES International.
• Ammonia Storage Infrastructure Ammonia storage and cracking infrastructure development as a hydrogen carrier and clean energy fuel, supporting green energy ecosystems at Port of Antwerp-Bruges and other locations.
• CO2 Storage Infrastructure Carbon dioxide storage infrastructure development supporting carbon capture and storage initiatives for industrial decarbonization.
• Battery Energy Storage Infrastructure Large-scale battery storage infrastructure development, including Vopak's agreement to acquire a majority stake in Green Energy Storage (GES) to accelerate battery storage deployment in the Netherlands supporting grid stability and renewable energy integration.
• Sustainable Feedstocks Storage Storage infrastructure for low-carbon fuels and feedstocks supporting the energy transition and industrial decarbonization.
• REEF LPG Terminal (Prince Rupert) LPG export terminal at Port of Prince Rupert, British Columbia, Canada, operated as a joint venture with AltaGas, including the CANXPORT transloading facility.
• Gas-to-Power Terminal Infrastructure LNG import terminal infrastructure supporting 3GW gas-to-power projects with regasified LNG as primary fuel, operating as mid-merit facility for electricity generation.

Quantifiable outcome

• 91% terminal occupancy rate across Vopak's global network
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core, minor and flagship.

• Transnet Pipelines (South Africa)coreStrategic or Co-development Partner · 18 June 2026Vopak Terminal Durban and Transnet Pipelines formed the Zululand Energy Terminal (ZET) joint venture under a 25-year concession to develop, finance, construct, operate and maintain South Africa's first LNG import terminal at Port of Richards Bay, serving the country's electricity and industrial sectors.
• ExxonMobil South Africa LNGcoreStrategic or Co-development Partner · 18 June 2026ExxonMobil South Africa LNG signed a heads of agreement with ZET to supply LNG to South Africa's first LNG import terminal at Port of Richards Bay, leveraging ExxonMobil's global LNG expertise to strengthen South Africa's long-term energy security and industrial competitiveness.
• Helle Kristoffersen and Roeland BaanminorOthers · 17 June 2026Nominated as members of Vopak's Supervisory Board, proposed for appointment at the Extraordinary General Meeting on July 29, 2026, as part of routine board composition refreshment.
• EskomcoreStrategic or Co-development Partner · 5 June 2026Eskom signed a heads of agreement with ZET establishing a framework for a planned 3GW gas-to-power project, with Eskom serving as foundation customer at the proposed LNG import terminal. The power plant will use regasified LNG as primary fuel operating as a mid-merit facility with 25-year design life, designated as Strategic Integrated Project under IRP 2025.
• Gasunie (Netherlands)coreStrategic or Co-development Partner · 1 June 2026Gasunie and Vopak took a conditional investment decision to extend EemsEnergyTerminal LNG import operations in Eemshaven, Netherlands until 2036, securing commercial contracts for 2028-2036 and government-committed guarantees. The terminal maintains 8.6 bcm/year import capacity representing ~25% of Dutch gas demand.
• Pakistan Energy MinistryminorStrategic or Co-development Partner · 26 May 2026Pakistan's energy ministry shared a framework with international oil producers, trading firms, and Vopak proposing creation of strategic petroleum reserves and bonded commercial storage terminals. Pakistan currently has no strategic reserves despite depending on Strait of Hormuz for up to 90% of oil and LNG imports.
• Green Energy Storage (GES)minorStrategic or Co-development Partner · 7 May 2026Vopak reached agreement with Green Energy Storage (GES) for a majority stake in GES to accelerate large-scale battery storage deployment in the Netherlands, supporting grid stability and renewable energy integration.
• Port of Antwerp-BrugesminorStrategic or Co-development Partner · 23 February 2026Vopak is among partners (including Air Products, Advario, Fluxys, VTTI) developing ammonia storage and cracking projects at Port of Antwerp-Bruges, which is positioning itself as a major European import hub for green hydrogen and hydrogen carriers such as ammonia.
• ACE terminal (Gasunie, HES International, Vopak)flagshipStrategic or Co-development Partner · 28 January 2026The ACE hydrogen import terminal in Rotterdam is developed by Gasunie, HES International, and Vopak, receiving EUR 25.62 million in EU funding under the Connecting Europe Facility as part of Projects of Common and Mutual Interest.
• OTTCO (Oman)flagshipStrategic or Co-development Partner · 27 October 2025Ottco and Royal Vopak signed a shareholder agreement to establish a joint venture in the Special Economic Zone at Duqm, Oman, developing energy storage and terminal infrastructure. The partnership leverages OTTCO's oil storage capabilities and Vopak's terminal operations expertise to support energy transition and industrial growth, with investments estimated in hundreds of millions of dollars.
• Exmar (Belgium)coreStrategic or Co-development Partner · 22 October 2025Exmar partnered with EemsEnergyTerminal (Vopak-Gasunie JV) to operate two FSRUs at the Eemshaven LNG import terminal, including conversion of one LNG carrier into a new FSRU, to maintain approximately 190,000 cbm storage capacity until at least 2036.
• AltaGas (Canada)coreStrategic or Co-development PartnerVopak and AltaGas operate a joint venture for the REEF LPG terminal at Port of Prince Rupert, British Columbia, Canada, with over C$3 billion in infrastructure projects coming online mid-2026 including the terminal, CANXPORT transloading facility, and CN's Zanardi Rapids Bridge expansion. The partnership is subject to legal dispute with Metlakatla First Nation.
• Vopak Horizon Fujairah JV (Vopak and Horizon Holdings)coreStrategic or Co-development PartnerVopak Horizon Fujairah is a joint venture operating petroleum storage at Fujairah port, UAE, a critical global oil hub located outside the Strait of Hormuz. Vopak temporarily suspended operations in March 2026 due to regional conflict and drone threats.
• Air Products, Advario, Fluxys, VTTI (Port of Antwerp ammonia projects)flagshipStrategic or Co-development PartnerMultiple partners including Air Products, Advario, Fluxys, and VTTI are co-developing ammonia storage and cracking projects at Port of Antwerp-Bruges, where Vopak participates as a partner, hosting the world's first operational ammonia cracker.

Scale indicators15 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• VTTI: VTTI (Vitol Tank Terminals International) is one of the largest independent global tank storage operators, headquartered in the Netherlands and majority-owned by Vitol. Directly competes with Vopak in liquid bulk petroleum, chemicals, and gas storage across Europe, Asia, the Middle East, and Africa, with similar long-term contract economics.
• Advario: Advario (formerly Oiltanking) operates one of the world's largest networks of tank terminals for oil, chemicals, and gases, owned by MISC Berhad and Saudi Aramco. Direct head-to-head competitor to Vopak in independent bulk liquid storage across the Americas, Europe, Asia, and the Middle East.
• Intercontinental Terminals Company (ITC): ITC is one of the largest privately held independent bulk liquid terminals in the United States, providing storage and handling for petroleum, chemicals, and petrochemical feedstocks. Directly comparable to Vopak's chemicals and petroleum tank farm business in customer base and asset profile.
• Buckeye Partners: Buckeye Partners operates one of the largest independent liquid petroleum products pipelines and terminal networks in the US. Comparable to Vopak in providing bulk storage and throughput services for refined petroleum and similar products under long-term customer agreements.
• Fluxys: Fluxys is a Belgian gas infrastructure group operating LNG terminals, storage, and pipelines across Europe. Comparable to Vopak's LNG import terminal operations (EemsEnergyTerminal) and emerging hydrogen/ammonia infrastructure, with overlapping European gas-transition focus.
• Horizon Terminals: Horizon Terminals (a wholly owned subsidiary of Dubai-based Concord Energy, and former Vopak JV partner in Fujairah) operates a global network of bulk liquid storage terminals. Direct peer in independent petroleum and chemical storage, with overlapping geographies including the Middle East.

Broad incumbents

• Kinder Morgan: Kinder Morgan is one of the largest energy infrastructure companies in North America, operating pipelines and terminals for natural gas, crude oil, refined products, and CO2. Overlaps with Vopak's midstream storage and terminal operations as part of a broader midstream portfolio, though focused on US markets.
• Magellan Midstream Partners: Magellan Midstream Partners operates a refined petroleum products pipeline system and terminals across the US. Comparable to Vopak's refined products and crude storage business in asset class and contract structure, though with a US-centric footprint.
• Shell Trading and Supply: Shell operates its own global network of tank terminals and storage facilities as part of its integrated trading and supply business. While not a pure-play storage company, Shell's terminal assets are a broad incumbent peer with overlapping customer base and infrastructure profile to Vopak.

Regional players

• ENN Energy: ENN Energy is one of China's largest private clean energy distributors, with significant LNG receiving terminal and gas storage operations. Comparable to Vopak's LNG and gas storage business, though focused on the Chinese market where Vopak also has joint ventures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vopak