Oiltanking Antwerp Gas Terminal (OTAG) is building a butane tank that will enable Ineos to purchase butane from around the world and store it in large quantities in the port of Antwerp. With this new development Antwerp once more sets itself on the world map for handling of liquid bulk. Doubling of tank capacity OTAG is investing more than 100 million euros in new tank storage capacity and a new landing jetty for Ineos. With the construction of a 135,000 m³ butane tank the company will practically double the capacity of its terminal on the Left bank by 2019, to 273,000 m³, thus making it the largest independent gas terminal in North-West Europe. Strategic investment For Ineos this gigantic intermediate storage capacity offers a way to purchase butane at the most competitive price and then use it as feedstock for its naphtha crackers in Cologne, not far away in Germany. Furthermore, having the largest European butane tank puts Ineos in a position to trade butane within Europe. "This tank and terminal will give Ineos greater flexibility and security in its supply chain, which in turn will have a positive effect on our competitive position in Europe," explains David Thompson, CEO of Ineos Trading & Shipping. "At the same time it puts us at the forefront of the largest players in the world market for LPG." Antwerp plays a full role in the liquid bulk picture Ineos is investing 1 billion US dollars worldwide in its new butane supply chain. Eventually this repositioning will generate additional shipping trade of 0.5 to 1 million tonnes annually for Antwerp. The goods will be transported to Antwerp in VLGCs (Very Large Gas Carriers) and then sent to Cologne in smaller quantities by barge. The position occupied by the port of Antwerp in the worldwide liquid bulk supply chain was once more confirmed last year with rising volumes. Compared with 2010 the port has experienced growth of no less than 70%. In recognition of this performance it won the "Best Port" award from the British trade journal Tank Storage, which this year placed the emphasis on safety, excellence and innovation.