Exolum, a global leader in liquid product storage and logistics, has reached an agreement to acquire from Moda Midstream LLC a 50% stake in Vopak Moda Houston LLC, an ammonia storage, import and export terminal located on the Houston Ship Channel. The terms of the agreement have not been disclosed.
Vopak Moda Houston (VMH) is a joint venture owned 50% by Moda Midstream, a holding company of EnCap Flatrock Midstream, and 50% by Vopak Terminals North America.
The acquisition of Moda’s stake in VMH is the latest step in Exolum’s diversification strategy to position itself as a leader in infrastructure and decarbonised fuel management for the coming decades. The investment in VMH will provide a platform for Exolum’s development in the United States while acquiring key competencies and know-how to enable it to implement innovative projects in Spain aligned with the energy transition and focused on promoting low-carbon fuels.
