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

Published by , Senior Editor
Tanks and Terminals,

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

In its submission, TSA highlighted that 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 TSA outlined 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.

The TSA 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. 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.”

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