The tank storage sector is a key component of the European economy, one that is relatively unknown to the public. Tank storage companies, represented in Europe by national associations through the Federation of European Tank Storage Association (FETSA) are essential players in our energy, transport, manufacturing, agricultural and food industries.

The tank storage sector balances the physical supply and demand of (mainly) liquid products, ranging from kerosene to sunflower oil. Tank storage contributes to price stability, reduces market uncertainty and ensures strategic storage in case of disruptions. The services that tank storage companies provide are not limited to specialized and safe storage and handling of products. Blending products, such as bioethanol with gasoline, is carried out by storage companies as well, to help end users comply with legal quality standards. All European economies have well developed storage sectors that support industrial activities. For instance, the Netherlands stands out as a globally important hub for energy products, chemicals and edible oils. Additionally, storage hubs are present in Hamburg, Germany; Fos-sur Mer, France; Tarragona, Spain and Genoa in Italy to name a few examples.

The tank storage sector supports a complex network of actors, from domestic industry players to residential consumers and international traders. Tank storage companies fulfill four broader tasks in the European economy, which are described in this paper: (1) they facilitate domestic consumption of products like transportation fuels and vegetable oils; (2) they support European industries; (3) they strengthen Europe’s trading hub and international price-setting status; and (4) they safeguard emergency and military stocks.

From an economic perspective, constant flows of fuels and chemicals keep European industry alive. The tank storage sector is part of international and regional supply chains and domestic industrial ecosystems that function in a reliable and cost-effective way. Thousands of manufacturing companies depend on oil products and natural gas for their industrial processes. The chemical, health, steel, construction, agricultural and automotive sectors are only some of the constituents of Europe’s industrial clusters. By fulfilling a part of domestic demand and supporting exports, the European industry brings enormous added value, provides jobs, enriches human capital, and fosters innovation and competition.