VTTI, a prominent leader in the energy infrastructure sector, has successfully completed the acquisition of a 50% ownership interest in Dragon LNG Group Limited, commonly known as Dragon LNG. Shell retains the other 50% stake in the terminal, marking a strategic partnership in the energy domain.

As part of VTTI's Strategy 2028, the company is reinforcing its role as a global leader in energy storage and terminal services. VTTI is expanding its portfolio by investing in critical infrastructure to support the energy transition. This includes developing liquefied natural gas (LNG) regasification terminals, advancing renewable natural gas (RNG) and waste-to-value production facilities, enhancing biofuel storage capabilities, and building infrastructure for ammonia and hydrogen. These initiatives aim to meet the growing demand for sustainable energy solutions and position VTTI as a key player in the evolving energy landscape, driving progress toward a more sustainable future.

VTTI is focused on accelerating its growth with a strategic goal of deriving 50% of its earnings from transitional and sustainable energy sources by 2028. As part of this commitment, VTTI has announced its second investment in LNG regasification terminals through Dragon LNG. This follows the company's intention to acquire a 70% equity stake in Adriatic LNG, Italy, a move announced in April 2024 and anticipated to close by the end of 2024. These investments reflect VTTI’s dedication to expanding its portfolio in the LNG sector and supporting the transition to more sustainable energy solutions.

Guy Moeyens, CEO of VTTI, emphasized that the import and distribution of LNG is crucial for supporting the global energy transition and ensuring supply security. He highlighted VTTI’s strategic focus on this area, leveraging their extensive experience in the storage industry. Moeyens expressed confidence in VTTI's ability to develop, operate, and manage LNG terminals globally, thanks to their established infrastructure capabilities. He also noted their enthusiasm for collaborating with Shell to maintain the safe and reliable operation of Dragon LNG.

Dragon LNG’s regasification terminal, located near Milford Haven in Wales, stands as one of the three key LNG terminals in the UK. The facility is designed with state-of-the-art infrastructure for LNG reception, storage, reliquefication, regasification, and send-out. It has the capacity to deliver up to 9 billion cubic meters of gas annually to the UK national transmission system, fulfilling approximately 10% of the country’s total gas demand.

Dragon Energy Limited, a wholly owned subsidiary of Dragon LNG Group Limited, has established a solar farm at its facility and is advancing additional renewable energy projects to support the reduction of Scope 2 emissions at the LNG terminal.

Simon Ames, Managing Director of Dragon LNG, expressed enthusiasm about the partnership with VTTI and Shell, highlighting its significant impact on Dragon LNG and Dragon Energy. He emphasized that VTTI’s entry as a key shareholder will bolster their commitment to operational excellence and sustainable growth. By leveraging VTTI’s expertise in energy infrastructure, Dragon LNG aims to enhance the terminal's safety, reliability, and environmental performance. Ames also underscored the importance of this collaboration in ensuring secure and flexible energy supplies to the UK.