Equinor and Global Petro Storage (GPS) have entered into a long-term agreement for a terminal and storage for LPG volumes in Port Klang in Malaysia.
GPS will build a new facility to execute this agreement with startup of operations planned for mid-2021. Equinor will bring LPG to the terminal and sell into the domestic market in Malaysia as well as selling volumes to markets like Bangladesh, the Philippines, India, Indonesia and Vietnam.
“Malaysia is an attractive market and we believe that we will be a competitive supplier to the wholesalers of LPG into the domestic market. The terminal and storage are also strategically located for blending and selling to other growing markets in the region,” says Molly Morris, Vice President for Products and Liquids in Equinor ASA.
As part of the agreement, Equinor will have an option to acquire an ownership share of the new storage and terminal, where Equinor will be the only user.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/22112018/gps-and-equinox-enter-lpg-storage-agreement-in-malaysia/