GPS Group, growing storage and logistics provider, announced the successful completion of its LPG storage terminal in Port Klang, Malaysia. With Equinor as an anchor tenant, the terminal began its first commercial operation on 10th May 2022.
Fully automated facility
Located in Port Klang, Malaysia’s busiest port with more than 10 million teu of throughput, this new infrastructure will enable cost-advantaged shipments of fully laden VLGCs into Malaysia and the region.
The fully automated facility will make it possible to re-export pressurised shipments into the region and domestic distribution within Malaysia by truck and cylinders. The terminal is also equipped for direct transfersofr LPG by pipeline to other LPG distribution facilities in the Port.
VLGC and pressurised LPG vessels capacity
The 135,000 cubic metre terminal began commercial operation in early May of 2022
Equinor has taken the full capacity of the terminal on a long-term basi, and will be able to take advantage of the terminal’s strategic location to increase sales of LPG in Asia.
The terminal can accommodate an annual throughput of approximately 1.2 million tons per year, and will be able to handle very large gas carriers (VLGC) and pressurised LPG vessels at its jetty. The 135,000 cubic metre terminal began commercial operation in early May of 2022.
VLGC freight economics
GPS, an independent storage and logistics company, is the majority shareholder of the project and owns and operates the LPG facility.
Eric Arnold, Executive Chairman and CEO of GPS, said, “The completion of the new terminal is a game-changer for LPG shipments into the Region. It is the first time that an independent player has the advantage VLGC freight economics into South East Asia.”
Improving energy infrastructure
This terminal will provide a good economy of scale for the import of LPG"
“Delivering this asset is another important milestone in the relationship between Equinor and GPS. We’re thrilled that together we have been able to improve the energy infrastructure of our region.”
Magne Hovden, President of Equinor Asia Pacific Pte. Ltd., said, “We would like to take this opportunity to congratulate GPS on the successful completion of the terminal. This terminal will provide good economy of scale for import of LPG and we look forward to working together with GPS to optimise LPG supply in the region.”
Infrastructure
GPS’s focus is on developing the infrastructure that suppliers of gas and petroleum like Equinor need to access the global marketplace.
This is the latest example of how the technical team, which supports GPS and sister organisation GES, and operational expertise combined with the financial resources of the shareholders to deliver industry-changing projects.
