Petroplus Bavaria Employees Welcome Gunvor CEO

Dutch tank storage company Vopak is acquiring the shares of Gunvor Petroleum Antwerp from commodity trader Gunvor Group Ltd (“Gunvor”), giving it access to the Gunvor concession in the Antwerp port area. Vopak is committed to sustainably redeveloping the site. For example, together with the Port of Antwerp-Bruges, the company will focus on joint development/implementation to support renewable energy. This is another important step towards a climate-neutral economy. The site is some 105 hectares in size and offers deep-sea, river, road and rail access, as well as pipeline connections to Northwest Europe. The adjacent and future pipelines are suitable for transporting i.a. propylene, ethylene, CO2 and hydrogen. New green energy hub Vopak will reconfigure the concession with the primary aim of making a positive contribution to the decarbonisation of the industrial cluster on the Antwerp port platform. Where necessary, soil remediation will take place in close consultation with internal and external experts and authorities. Furthermore, the Port of Antwerp-Bruges and Vopak will continue their discussions to structure their common strategic ambition, which is to jointly develop a new green energy hub. Shahb Richyal, Global Head of Portfolio, Gunvor: "Since rescuing GPA from insolvency in 2012, Gunvor has been committed to operating the refinery and terminal as a responsible tenant and employer in the Port of Antwerp. Over many years of operations, Gunvor invested considerably in the asset, and through the mothballing process and subsequent cessation of all activities sought to ensure that all stakeholders and employees were treated fairly, and that the environment remained respected. By reaching an agreement with Vopak for the acquisition of the shares of GPA, Gunvor is ensuring the site will have a new future under responsible leadership". Jacques Vandermeiren, CEO Port of Antwerp-Bruges: “As Port of Antwerp-Bruges, we’re very pleased that Vopak has found expansion opportunities on the Gunvor site. This Dutch global player has been an established value on the Antwerp port platform for many years and will continue to focus on green ammonia, sustainable fuels and finer chemical products at the new site.Not only does this allow Vopak to continue to grow within our port in line with the strategy of the Port of Antwerp-Bruges, but we’re also demonstrating how, as a port, we’re shaping the energy transition together with businesses.” Annick De Ridder, Vice-Mayor of the City of Antwerp and President of the board of directors of Port of Antwerp-Bruges: "The collaboration with Vopak fits perfectly with Port of Antwerp-Bruges' ambition to become the energy gateway to Europe as a 'green port'. That this global player that has been anchored in our port for years can now sustainably expand within Europe's largest petrochemical cluster is excellent news. In this way, the Dutch company Vopak makes Flanders' economic engine continue to turn swiftly." Patrick van der Voort, President Europe & Africa, Royal Vopak: “We’re very pleased to have access to this prime location in Europe’s leading petrochemical cluster. It offers us a unique opportunity to implement our strategy, forge new partnerships and support the industry in its decarbonisation by developing critical infrastructure. The site’s extensive size, strategic location and connectivity to Northwest Europe offer unparalleled opportunities.”

About Royal Vopak Royal Vopak is the world’s leading independent tank storage company. We store vital products with care. Products for everyday life. The energy that allows people to cook, heat or cool their homes and for transportation. The chemicals that enable companies to manufacture millions of useful products. The edible oils to prepare food. We take pride in improving access to cleaner energy and feedstocks for a growing world population, ensuring safe, clean and efficient storage and handling of bulk liquid products and gases at strategic locations around the world. We are excited to help shape a sustainable future by developing infrastructure solutions for new vital products, focusing on zero- and low-carbon hydrogen, ammonia, CO2, long duration energy storage and sustainable feedstocks. We have a track record of over 400 years in navigating change and are continuously investing in innovation. On sustainability, we are ambitious and performance driven, with a balanced roadmap that reflects key topics that matter most to our stakeholders and where we can have a positive impact for people, planet and profit and the United Nations Sustainable Development Goals. Vopak is listed on the Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. For more information, please visit www.vopak.com.

Air Products (NYSE:APD) and Gunvor Petroleum Rotterdam (GPR), a wholly-owned subsidiary of Gunvor Group (Gunvor), have signed a joint development agreement for an import terminal in Rotterdam. The agreement responds to the accelerating demand for green energy sources to meet climate objectives and the need to diversify energy sources. The import terminal is expected to provide green hydrogen to the Netherlands in 2026. Green Hydrogen Economy Green hydrogen is key to the energy transition. It has significant potential to decarbonize hard-to-abate sectors, such as heavy-duty transport and industry. A substantial amount of renewable energy is needed to produce green hydrogen. It is unlikely that Europe will be able to produce these amounts locally, making large-scale, green hydrogen imports essential for reaching targets set under the European Union's (EU) "Fit for 55" legislative package and REPowerEU. With this project, the Netherlands would make a leading contribution to EU energy transition goals. Key Development Milestones The signing of the agreement is an important step towards an investment decision that will be taken as the companies gain confidence in the regulatory framework, permitting process, and funding support. Certification of the green hydrogen is needed to ensure that the imported green ammonia and resulting green hydrogen is recognized and counted towards the EU renewable energy targets. For funding support, this project seeks to be recognized as an 'Important Project of Common European Interest' (IPCEI). Air Products looks forward to continuing engagement with the relevant stakeholders to establish the broader support available to the project. Gateway to Northwest Europe The Gunvor site in Europoort Rotterdam is one of several European locations envisaged by Air Products for the development of a green hydrogen import terminal. It offers strategic access for receiving green ammonia from large-scale green hydrogen production locations operated by Air Products and its partners from projects around the world. The green ammonia will be converted to hydrogen and distributed to markets within Europe, including the Netherlands, Germany, and Belgium. Air Products and Gunvor both have a proven track record for reliability and safety and are committed to delivering world-class performance in personal and process safety. Benefits to the Dutch Economy Independent analysis from CE Delft has shown the project will ultimately deliver EUR 260-425 million of indirect economic benefits, culminating in thousands of new jobs over the coming years. The savings in carbon dioxide (CO₂) emissions to the transport sector, combined with the benefit of reduction in other harmful emissions, would create an overall environmental benefit valued at over EUR 100 million by 2030. Ivo Bols, President Europe and Africa, said, "Air Products is pleased to take a next step towards a green hydrogen import terminal in Rotterdam, together with our partner Gunvor. Hydrogen import is essential to diversify our energy resources and meet climate objectives. Air Products, the largest hydrogen producer in the world, is committed to contribute to both ambitions by accelerating the development of the European green hydrogen economy via first-mover projects like these. We are looking forward to further cooperation with Gunvor to make Rotterdam ready for green hydrogen imports." "Gunvor is pleased to be partnering with Air Products through Nyera, our investment vehicle dedicated to supporting the Energy Transition, in order to leverage strategic locations such as our Rotterdam facility in a way that advances the development of sustainable and renewable energy initiatives," said Shahb Richyal, Global Head of Portfolio at Gunvor. Allard Castelein, CEO Port of Rotterdam: "We are very supportive of Air Products' and Gunvor's plans, which are a great example of using a brownfield location to set up a new import terminal for green ammonia in the port of Rotterdam. Both companies have been active in the energy sector for a long time and are responding to society's demand to reduce greenhouse gas emissions as well as to increase Europe's energy independence. Green ammonia is not only a hydrogen carrier and a feedstock for the chemical industry, but it's also an important renewable fuel for the shipping sector. First-mover projects like this will make Rotterdam Europe's foremost Hydrogen Hub." About Gunvor Group Gunvor Group is one of the world's largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy and bulk materials from where they are sourced and stored to where they are demanded most. Gunvor has strategic investments in industrial infrastructure—refineries, pipelines, storage, and terminals—that complement core trading activities and generate sustainable value across the global supply chain for customers. In 2021, Gunvor reported turnover of US $135 billion on volumes of 240 million MT. Approximately 50% of the company's trading consists of "transitional" commodities, including biofuels, natural gas and LNG. For more information, visit GunvorGroup.com. About Air Products Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including: gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals; carbon capture projects; and world-scale low- and zero-carbon hydrogen projects supporting global transportation and the energy transition. The Company had fiscal 2021 sales of $10.3 billion from operations in over 50 countries and has a current market capitalization of about $55 billion. More than 20,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world.

Energy Transfer LNG Export to supply LNG to Gunvor Singapore Pte from its Lake Charles LNG Export Facility Under 20-year Agreement Energy Transfer LP (NYSE: ET) and Gunvor Group Ltd today announced that Gunvor Singapore Pte Ltd (Gunvor) has entered into an LNG Sale and Purchase Agreement with Energy Transfer LNG Export, LLC (Energy Transfer LNG), a subsidiary of Energy Transfer LP, related to its Lake Charles LNG project. Under the SPA, Energy Transfer LNG will supply 2 million tonnes of LNG per annum to Gunvor on a free-on-board (FOB) basis. The purchase price is indexed to the Henry Hub benchmark plus a fixed liquefaction charge. The SPA is for a term of 20 years, and first deliveries are expected to commence as early as 2026. The SPAs will become fully effective upon the satisfaction of the conditions precedent, including Energy Transfer LNG taking final investment decision (FID). “We are pleased to partner with Energy Transfer, which is a significant step in executing Gunvor’s overall strategy of uncovering and securing low-cost resources and implementing competitive and reliable deliveries to our LNG buyers. We look forward to a successful, long-term relationship with the Energy Transfer team as their project continues to progress,” said Kalpesh Patel, Co-Head of LNG Trading of Gunvor. “Gunvor is a well-known participant in the LNG industry, and we are excited to have them as a customer,” said Tom Mason, President of Energy Transfer LNG. “Gunvor’s commitment to Lake Charles further evidences the progress we are making towards taking FID by year end.” Energy Transfer is one of the largest and most diversified midstream energy companies in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer's Lake Charles LNG export facility will be constructed on the existing brownfield regasification facility and will capitalize on four existing LNG storage tanks, two deep water berths and other LNG infrastructure. Lake Charles LNG will also benefit from its direct connection to Energy Transfer’s existing Trunkline pipeline system that in turn provides connections to multiple intrastate and interstate pipelines. These pipelines allow access to multiple natural gas producing basins, including the Haynesville, the Permian and the Marcellus Shale. About Gunvor Gunvor is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. Gunvor has strategic investments in industrial infrastructure—refineries, pipelines, storage and terminals—that complement our core trading activity and generate sustainable value across the global supply chain for our customers. The company, which in 2021 generated US $135 billion in revenue on 240 million MT of volumes, is the leading independent global trader of liquefied natural gas (LNG). About Energy Transfer Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). Forward Looking Statements This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events. The information contained in this press release is also available at energytransfer.com.

GES is acquiring part of the assets of Stargate Terminal from Gunvor Group and will develop over 20 hectares of vacant land.
GES has ambitious plans to develop a large industrial site at Rotterdam for storage solutions for low carbon products to facilitate the energy transition.
This is the first deal announced by the newly formed GES, a company with a focus on energy transition fuels and related services.

________________________________________ Global Energy Storage (GES) announces today its first major investment at Europoort in the Port of Rotterdam. It is buying an interest in part of the assets of the Stargate Terminal from Gunvor Group and will develop more than 20 hectares at the heart of the port. The deal has been formally approved by the Port of Rotterdam Authority. The site includes a significant waterfront with deep water access, brownfield development opportunities and potential greenfield development sites. Gunvor will be a long-term partner of GES at the Port of Rotterdam. “We’re pleased to be partnering with GES to further support the development of environmentally responsible projects in the port of Rotterdam,” said Shahb Richyal, Global Head of Portfolio at Gunvor Group. “This deal is in line with Gunvor’s strategy to support the advancement of Energy Transition initiatives at our key asset locations.” Gunvor also recently announced that its Rotterdam facility will supply to material science company Dow cracker-ready feedstock, which will be used to produce circular plastics. GES’ ambitious plans include the development of a new multi-purpose seagoing jetty, as well as developing infrastructure for:

Consolidation of biofuel storage
Storage for renewable fuels
Gas storage
Gas to chemicals production
Green and blue hydrogen
Hydrogen carriers such as ammonia

Peter Vucins said, “This project aims to become one of the largest low-carbon developments at a world-class industrial hub, with the potential to significantly reduce the carbon footprint of future business in the Port of Rotterdam. Alongside a new jetty that we aim to develop and low-carbon commodity infrastructure, we are also looking to become part of the logistics chain needed to import blue and green hydrogen. I hope this gives a glimpse of the size of our ambitions.” The Port of Rotterdam is Europe’s largest port, with deep-water access and world-class connectivity to inland waterways and pipeline infrastructure. Peter Vucins said, “The port is ideally placed for this development, which will bring low-carbon technology to one of the world’s great trading hubs that has taken a leading position in the energy transition with very significant and ambitious developments of its own.” GES has a focus on energy transition fuels and fuels-of-the-future. Its strategy is to concentrate on key global hubs, international cross-linked business, and long-term relationships with top-tier energy suppliers. Eric Arnold, Executive Chairman of GES, added, “This is the first of what we hope will be many deals. We are looking to develop an international network of storage and logistics infrastructure for low-carbon commodities. You can expect to see a rapid expansion across 2021-22.” GES was set up by the management team from Global Petro Storage (GPS), the leading operator and developer of energy and chemical assets. GES has a unique proposition:

A proven management team with experience that is second-to-none
Private Equity backing, meaning swift decisions and a longer-term view
Exclusive focus on energy transition fuels

GES, which launched in May 2021, is backed by Bluewater, the specialist international private equity firm focused on the middle-market energy sector.

Gunvor will supply cracker-ready feedstock derived from plastic waste to Dow in Europe beginning in 2021, which will be used to produce circular plastics for customers
Agreement adds scale to Dow’s circular polyethylene production, reclaiming more waste plastics and keeping them out of the environment

Dow (NYSE: DOW) has finalized an agreement with Gunvor Petroleum Rotterdam, a wholly owned subsidiary of Gunvor Group Ltd (Gunvor) to purify pyrolysis oil feedstocks derived from plastic waste as part of last week’s announced actions to expand global capabilities for circular plastics. Gunvor will supply cracker-ready feedstock to Dow in Europe beginning in 2021, which will be used to produce circular plastics for customers. The purification process is necessary to ensure the pyrolysis oil feedstocks are of sufficient quality to produce new polymers. “The agreement builds on Dow’s longstanding relationship with Gunvor and leverages the economies of scale needed to bring a circular economy for plastics another step closer,” said Diego Donoso, president of Dow’s Packaging and Specialty Plastics business. “In addition to our efforts to design for recyclability, we are adopting advanced recycling technologies that allow us to reclaim and reuse more waste plastics that would otherwise go to waste.” Gunvor is an experienced processor of crude oils with a strong European presence, and brings expertise that can further improve the quality of pyrolysis oil feedstock. The agreement with Gunvor supports Dow’s advanced recycling agreements with Mura, Fuenix and New Hope and complements Dow’s intention to fast-track a market development scale purification unit in Terneuzen, the Netherlands, which will provide additional purification capacity. These collective efforts demonstrate continued progress toward meeting the Company’s announced sustainability targets to stop plastic waste, close the loop and protect the climate. “By building on our longstanding relationship with Dow, Gunvor is implementing our near-term strategy to leverage the Group’s existing traditional asset base to advance Energy Transition objectives in a commercially viable manner,” said Gunvor Group CEO, Torbjörn Törnqvist. "Reducing waste and promoting sustainability is a priority." About Gunvor Group Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy and bulk materials from where they are sourced and stored to where they are demanded most. Gunvor has strategic investments in industrial infrastructure—refineries, pipelines, storage, and terminals—that complement core trading activities and generate sustainable value across the global supply chain for customers. In 2020, Gunvor reported turnover of US $50 billion on volumes of 191 million MT. Approximately 50% of the company’s trading consists of “transitional” commodities, including biofuels, natural gas and LNG. For more information, visit GunvorGroup.com. About Dow Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through our materials science expertise and collaboration with our partners. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $39 billion in 2020. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.

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CVR Supply & Trading signs Gunvor to exclusive crude oil supply agreement

Gunvor USA (“Gunvor”), a subsidiary of Gunvor Group, a leading global energy commodities trading company, has signed a crude oil supply agreement with CVR Supply & Trading, LLC (“CVR”), a subsidiary of CVR Energy, Inc. (NYSE: CVI). Under the terms of the agreement, Gunvor will provide CVR with crude oil supply and logistics intermediation in […]

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Gunvor Petroleum Rotterdam becomes Gunvor Energy Rotterdam

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Vopak and Port of Antwerp-Bruges to sustainably redevelop former Gunvor site

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World first as physical oil trade confirmations are digitalised using VAKT

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Gunvor successfully increases obsi revolving credit facility to usd 990 million

Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a USD 990 million Off Balance Sheet Instruments Revolving Credit Facility (“Facility”) in favor of Gunvor SA, Gunvor International B.V., Gunvor Deutschland GmbH, Gunvor Singapore Pte. Ltd., Gunvor Raffinerie Ingolstadt GmbH and Gunvor Petroleum Rotterdam B.V.. The Facility received strong support from Gunvor’s banking and institutional […]

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Air Products and Gunvor to Cooperate on Green Hydrogen Import Terminal in Rotterdam

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Energy Transfer Signs LNG Sale and Purchase Agreement With Gunvor

Energy Transfer LNG Export to supply LNG to Gunvor Singapore Pte from its Lake Charles LNG Export Facility Under 20-year Agreement Energy Transfer LP (NYSE: ET) and Gunvor Group Ltd today announced that Gunvor Singapore Pte Ltd (Gunvor) has entered into an LNG Sale and Purchase Agreement with Energy Transfer LNG Export, LLC (Energy Transfer […]

Biofuel GER

Gunvor divests stake in rotterdam terminal to ges under long-term energy transition partnership

GES is acquiring part of the assets of Stargate Terminal from Gunvor Group and will develop over 20 hectares of vacant land. GES has ambitious plans to develop a large industrial site at Rotterdam for storage solutions for low carbon products to facilitate the energy transition. This is the first deal announced by the newly […]

Crude LNG

Dow partners with Gunvor to purify plastic waste streams to scale circular plastics manufacturing

Gunvor will supply cracker-ready feedstock derived from plastic waste to Dow in Europe beginning in 2021, which will be used to produce circular plastics for customers Agreement adds scale to Dow’s circular polyethylene production, reclaiming more waste plastics and keeping them out of the environment Dow (NYSE: DOW) has finalized an agreement with Gunvor Petroleum […]

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Gunvor se une a la Asociación Española de Operadores de Productos Petrolíferos

AOP suma así a siete grandes compañías dentro de la organización y aumenta su representatividad. Gunvor cuenta con una bioplanta en el País Vasco y otra en Huelva. El grupo Gunvor se ha unido a la Asociación Española de Operadores de Productos Petrolíferos como compañía socia de pleno derecho tras el acuerdo de la junta […]

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Petroplus Bavaria Employees Welcome Gunvor CEO

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