Zenith Energy, a global operator of independent liquid storage terminals, will increase the amount of low-carbon, renewable diesel to be handled and stored at its Portland facility three-fold.
This increase is the result of a new, long-term commitment with an existing customer who is committed to a low-carbon economy and providing renewable fuels to the greater Portland area.
Zenith’s commitment further supports its vision of the Portland Terminal as a premier logistical asset in the handling of renewable fuels, which will assist the city in meeting its own goals for reduction in the use of fossil fuels in support of the Oregon Clean Fuels Program.
“We acquired this terminal to capitalise on the growing demand for renewable fuels in Oregon and throughout the western US,” said Jeff Armstrong, CEO of Zenith.
“This growth is being driven by aggressive and necessary carbon reduction goals being set by municipalities, states and the private sector.
“The Portland Terminal can play a significant role in helping Oregon meet its carbon reduction goals by making clean, renewable fuels readily available for public and private sector fleet owners.”
After assuming operation of the terminal in 2017, Zenith terminated the crude oil export contract held by the prior operator and shifted its focus to meeting the region’s growing need for renewable fuels.
With this new commitment, Zenith estimates that 17% of the fuels stored at the Portland Terminal will be renewable by the end of 2021, and predicts renewable fuels will account for nearly half of the terminal’s capacity by 2025. The firm is in the process of acquiring permits for the terminal to build dedicated renewable fuel infrastructure to meet the anticipated market demand.
“Since transportation fuels are the world’s largest source of greenhouse gas emissions, the transition of the Portland Terminal’s capacity to an increased focus on renewable fuels demonstrates the impact Oregon can make by reshaping its existing energy infrastructure,” commented Armstrong.
“Because renewable diesel works with the transportation industry’s existing distribution infrastructure and engines, Oregon’s network of pipelines, storage tanks, and fuelling sites can be repurposed to rapidly scale its availability. This is a major advantage that will enable renewable diesel to replace fossil fuels faster and more affordably.”
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