The rapid macroeconomic and geopolitical changes brought on by the global energy transition will have serious consequences for the Dutch and European tank storage sector.
The Dutch Association of Tank Storage Companies (VOTOB) is engaging in a broad set of activities to strengthen its strategic capacity in light of these changes. The changing energy landscape and the push for decarbonization is likely to shift international value chains of fuels and chemicals. At the same time, the increasing use of renewable energy sources is likely to create its own dependencies, for instance on rare earth minerals from China.
The tank storage sector has a role to play in this transition, but this depends on a number of social, political and financial factors, and the extent to which governments can fulfill the goals set by international climate agreements. The purpose of this paper therefore, is to provide a better understanding of how the rapidly changing global context will impact the (European) tank storage sector and draw some first conclusions for the way forward.
Authors: Jilles van den Beukel, Lucia van Geuns, Irina Patrahau and Michel Rademaker (Project Leader).