02 October 2007 13:23 [Source: ICIS news]
BERLIN (ICIS news)--The world’s largest oil and chemicals storage provider Vopak has delayed its investment decision on its liquefied natural gas (LNG) project in Rotterdam to the end of the year as negotiations are still ongoing, the company chairman said on Tuesday.?xml:namespace>
“It’s not a question whether there will be [a terminal] but when there will be,” John Paul Broeders said on the sidelines of the European Petrochemical Association conference, regarding plans to develop an LNG import and regasification terminal.
The company had appointed engineering, procurement and construction (EPC) contractors and started designs on preface, Broeders said.
“We want to make sure our products are contracted out but the liquefaction capacity is not developing as fast as expected,” he said.
“There has been some shortage in supply and it makes it difficult for customers to sign on long-term contracts,” he added.
More LNG might be available in 2013-2014, Broeders said.
“We learnt a lot these two years. That makes us confident that we can look at other projects worldwide,” he said.
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