Spanish logistics company secures 50% stake in ammonia terminal in US

Spanish logistics company Exolum has acquired a 50% stake in Vopak Moda Houston (VMH), an ammonia storage terminal on the Houston Ship Channel, from U.S. Moda Midstream. The acquisition allows Exolum to establish a presence in the U.S. Gulf Coast ammonia logistics infrastructure and supports its business development in the U.S. Dutch Royal Vopak will remain a 50% shareholder in the venture. VMH is strategically located and provides ammonia and natural gas liquid storage services. The terminal plans to build a new facility for the large-scale export of low-carbon ammonia.

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Frequently Asked Questions

1. Which Spanish logistics company has acquired a 50% stake in a US ammonia terminal?

- Exolum, a Spanish storage and fuel logistics company, has completed the acquisition of a 50% interest in the Vopak Moda Houston ammonia terminal located in the US. source

2. What is the name of the ammonia terminal in which the Spanish company secured a stake?

- The terminal is known as Vopak Moda Houston. source

3. Where is the Vopak Moda Houston terminal located?

- It is located on the Houston Ship Channel in the United States. source

4. When was the acquisition of the 50% stake in the ammonia terminal completed?

- The acquisition was reported on December 13, 2023. source

5. Who were the previous owners of the Vopak Moda Houston terminal?

- The Vopak Moda Houston terminal was jointly owned by Royal Vopak and Moda Midstream before the acquisition. source

6. Will Royal Vopak remain a shareholder in the terminal after the acquisition?

- Yes, Royal Vopak will remain as a 50% shareholder in the terminal post-acquisition. source

7. What is the significance of the Houston Ship Channel for the ammonia terminal?

- The Houston Ship Channel is a significant maritime route in the United States, and having a terminal located on this channel provides strategic access for ammonia import and export operations. The specific significance for this terminal was not detailed in the provided search results, but the location suggests logistical advantages. source

Please note that the search results do not contain information regarding all the specifics of the deal's terms, the financials involved, or the strategic planning behind the acquisition.