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UPDATE 1-Owners say Coryton land sale will not scupper UK oil terminal plan

Thu, 25th Jun 2015 09:17

(Adds detail)

June 25 (Reuters) - The companies developing a long-delayedoil storage terminal at the closed Coryton oil refinery insoutheast England have put two-thirds of its land up for sale,the partners announced on Thursday.

Vopak, Royal Dutch Shell and Greenergysaid the proposed sale of 403 acres from the erstwhile Petroplusrefinery site would not impact the Thames Oilport project.

"We remain committed to the development of a deep-waterimport terminal at Thames Oilport to meet the growing fuelsupply needs of the South East," Greenergy Chief ExecutiveAndrew Owens said.

Despite this, the project remains officially "under review"with no timeline for opening.

It was originally scheduled to open at the end of 2013, butwas put on hold in September 2014 as the partners looked toassess the costs of the conversion.

The roughly one third of the site still available providesmore than enough space for a terminal, a spokesman for theproject said.

"No one has any firm idea yet how compact or how large thesite will be," the spokesman said.

Vopak said its equity participation in the joint venturewould mean recognising as an exception loss for the first halfof 2015 of between 40 million and 45 million euros ($45million-$50 million).

($1 = 0.8937 euros) (Reporting by Libby George; editing by Jason Neely)

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