Exolum to acquire 50% of Moda Midstream Houston

Exolum has announced an agreement to acquire 50% of a leading ammonia and NGL storage terminal in Houston, Texas, USA, from Moda Midstream.

The terminal, Vopak Moda Houston, is currently jointly owned by Royal Vopak and Moda Midstream. Royal Vopak remains as 50% shareholder in the new joint venture.

The acquisition will enable Exolum to establish a key presence in the U.S. Gulf Coast with existing ammonia logistics infrastructure. The terminal and its partners are currently developing one of the most advanced low-carbon ammonia production and export projects worldwide, with targeted annual throughput capacity of 1.1 million tonnes and 70,000 tonnes of additional storage capacity permitted.

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