Strong performance leaves port well placed for investment in renewablesNews // June 2, 2011
Milford Haven Port, which handles a fifth of the UK’s fuel requirements, says a strong year from clean gas and oil activities in 2010 will drive new plans to attract renewable energy and biomass businesses, while supporting continued development of existing port infrastructure and services.
The port, which is charged with operating commercially so its profits can be reinvested to stimulate the local economy and create jobs, has seen turnover increase by almost 20 per cent and profits by over two thirds during 2010, as detailed in its annual report, which was released on June 1st.
Welcoming the results, chief executive Alec Don said: “We are now in a solid position to deliver a programme of sustained investment in port infrastructure and services, with a heavy focus on emerging renewable energy technologies.
Most importantly, as Britain’s third largest port, we are now where we should be; our key role is to be a driver for economic growth, both nationally and regionally, contributing to the creation of secure long-term employment.”
In 2010 the port handled 42.9 million tonnes of throughput including 31.4 million tonnes of oil products and 10.5 million tonnes of gas including LNG, together representing around 20% of the UK’s energy products throughput.
“The challenge we face is to extend beyond our traditional market of clean energy from fossil fuels into new trades including participating in the green energy revolution,” said Mr Don.
The port is investing heavily in a range of new activities and infrastructures to achieve this. Mr Don said that work would continue on the planning of a new deep water terminal based on the Blackbridge site to support a range of renewable energy initiatives.
“It has all the attributes necessary for a successful commercial development, offering the opportunity for straightforward connection to over 2GW of spare capacity on the National Grid and substantial sites for power generation, cargo handling and processing served by berths with 17m depth of water.”
Milford Haven Port is also focused on investing in its facilities at Pembroke Port for renewable energy and marine engineering, tapping into a deep well of local skills built up through servicing the areas major refineries.
In addition to this, new partnerships are being formed to boost the marine-leisure and fishing sectors centred on Milford Docks.
“Pembrokeshire and Milford Docks, including Milford Marina, have all the attributes to be one of the UK’s premier leisure destinations. Our coastline and National Park together with one of the largest inland waterways is giving us the confidence to commit to significant investments to boost Pembrokeshire’s tourism economy,” said Mr Don.
Commenting on the port’s strong position for investment in and move towards new green economic developments, Mr Don added: “The world class companies we have here, matched with the facilities offered by the existing deep-water port, make Milford Haven a highly attractive location for all marine and energy-related industries.
“The legacy of oil refining and the skills it has fostered, coupled with existing high capacity pipelines and electricity grid links, is what puts the port in pole position for renewable energy investment.”