GPS Group & SSB Cryogenic Services ink small-scale LNG agreement
Singapore-based EPC company SSB Cryogenic Services (SSB) inked a $50m collaboration agreement with Global Petro Storage (GPS) Singapore to expand and develop small-scale LNG supply chain solutions in Southeast Asia.
With a global push for cleaner energy sources alongside the IMO 2020 sulphur fuel cap announcement, both companies recognise the potential and opportunities in LNG bunkering, intermediate storage and break bulking activities, as well as the increasing need for LNG supply chain solutions.
The collaboration aims to promote transportation, distribution and storage of small-scale LNG to locations with limited access to energy sources due to inadequate distribution infrastructures and poor interconnectivity of gas pipelines.
Smaller scale supply solutions, via small-scale LNG membrane vessels, satellite hubs and ISO tanks make it inherently suited to locations where the demand for energy sources is not adequately serviced.
“As part of the collaboration, SSB will identify and introduce project opportunities to GPS,” said Peh Lam Hoh. “GPS, with an extensive knowledge in the energy industry and specialising in project investment and asset management, will own and operate the assets and infrastructures.”
“With the new SSB technical service centre in Singapore to provide support for cryogenic equipment, we strive to push forward the development of small-scale LNG supply chain solutions, serving the small and mid-scale customers in this region.”
Both companies are committed to provide a total solution for small to mid-scale LNG projects.
Peh Lam Hoh continued: “From LNG liquefaction, bunkering, intermediate storage and break-bulking solutions, to project financing support and investment of LNG-related opportunities as well as the execution in the LNG last mile solutions will provide a platform to enhance our capabilities and value propositions.”
“The collaboration with GPS will solidify SSB’s position as a total solutions provider in the LNG industry.”
7th January 2019