GPS Group, a growing storage and logistics provider, announced the successful completion of its LPG storage terminal in Port Klang, Malaysia. With Equinor as anchor tenant, the terminal began its first commercial operation on 10th May, 2022.
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 pressurized shipments into the region, as well as domestic distribution within Malaysia by truck and cylinders. The terminal is also equipped for direct transfers for LPG by pipeline to other LPG distribution facilities in the Port.
Equinor has taken the full capacity of the terminal on a long-term basis, 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 pressurized LPG vessels at its jetty. The 135,000 cubic metre terminal began commercial operation in early May of 2022.
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.”
“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 optimize LPG supply in the region.”
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 our technical team, which supports GPS and our sister organization GES, and operational expertise combined with the financial resources of our shareholders to deliver industry-changing projects.
