The Business, Energy and Industrial Strategy (BEIS) Committee’s inquiry on Post-Pandemic Economic Growth has prompted The Tank Storage Association (TSA) to submit a response to the UK House of Commons.

TSA highlighted that bulk liquid storage has felt the impact of the coronavirus (COVID-19). But it said that during this challenging time, the industry and associated logistics have continued to work tirelessly to keep critical infrastructure operating.

The Association then outlined the critical importance of bulk liquid storage terminals in responding to market fluctuations and in improving the flexibility of the entire supply chain. Against a background of increased demand for petroleum storage globally and a decline in oil demand due to the COVID-19 pandemic, it said the sector has “undoubtedly come to the fore”.

It also called for a clear strategy to be developed with the bulk liquid storage sector “to set a joint vision for the future in order to protect the economic and strategic value of UK bulk storage and unlock opportunities in support of the achievement of the UK’s decarbonisation targets”.

Peter Davidson, Executive Director of the TSA, said: “The bulk liquid storage sector is the pulse of our day to day life, providing the critical link in the transportation system for liquid products, from transport and heating fuels, to chemicals and food-grade products.” 

He added: “Our submission to the inquiry highlights the vast and strategic advantages of the industry and associated logistics in unlocking opportunities and time is of the essence. Now is the time to work together to unleash potential, drive recovery and enable solutions for change.”

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30th June 2020