On Thursday, an energy storage company Global Energy Storage (GES) announced that it is purchasing Gunvor Group’s Rotterdam, Netherlands, assets.
GES did not disclose the financial details for the purchase.
It also plans to redevelop 20 hectares (49 acres) of land in the port for its operations. The existing oil terminal will be developed into a terminal for low-carbon products. Other than that, GES will also construct a new jetty at the site along with infrastructure for gas storage, gas-to-chemicals production, hydrogen storage, and ammonia storage.
According to Gunvor's Global Head of Portfolio Shahb Richyal, the transaction will support the development of environmentally responsible projects in the port of Rotterdam.
