TSA responds to BEIS Committee’s inquiry on Post-Pandemic Economic Growth

On 29 June, the Tank Storage Association (TSA) submitted its response to the House of Commons Business, Energy and Industrial Strategy (BEIS) Committee’s inquiry on Post-Pandemic Economic Growth.

In our submission, we highlighted:

• Like many other sectors, bulk liquid storage has also felt the impact of the coronavirus (COVID-19). During this challenging time, the industry and associated logistics have continued to work tirelessly to keep critical infrastructure operating.
• Against a background of increased demand for petroleum storage globally and a decline in oil demand due to the COVID-19 pandemic, the critical importance of bulk liquid storage terminals in responding to market fluctuations and in improving the flexibility of the entire supply chain has undoubtedly come to the fore.
• TSA calls 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 liquid storage and unlock opportunities in support of the achievement of the UK’s decarbonisation targets.

Peter Davidson, Executive Director of the Tank Storage Association, 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. Our submission to the inquiry highlights the vast and strategic advantages of the industry and associated logistics in unlocking opportunities and argues that time is of the essence. Now is the time to work together to unleash potential, drive recovery and enable solutions for change.”

 

Ends

Notes to editors

• The Tank Storage Association (TSA) represents the interests of over 60 member companies engaged in the storage of bulk liquids and the provision of products and services to the sector. Collectively, its members operate over 290 terminals and distribution hubs in the UK and have over 10 million cubic metres of storage capacity in the United Kingdom (UK) and Republic of Ireland (ROI). TSA’s members provide and support an essential interface between sea, road, rail and pipeline logistics for many different substances including transport and heating fuels, chemicals, animal feed and foodstuffs.
• For more information on the Energy and Industrial Strategy (BEIS) Committee’s inquiry on Post-Pandemic Economic Growth, click here.

 

Media enquiries

Nunzia Florio, Communications Specialist: T. +44 (0)7903 388584 – Email communications@tankstorage.org.uk