Singapore-based turnkey service provider and EPC company SSB Cryogenic Services (SSB) and Global Petro Storage (GPS) Singapore, a global investment firm specialising in asset management in the energy industry, will be entering the Singapore liquefied natural gas (LNG) bunkering market.
Both parties at OSEA 2018 on Tuesday inked a Collaboration Agreement valuing USD $50 million to build and bring small-scale LNG supply chain solutions to South East Asia.
“GPS believes that gas is the fuel of the future and thus is focused on developing optimal onshore and offshore infrastructure needed to allow suppliers to access the respective demand centres,” commented Eric Arnold, Chief Executive Officer of GPS.
“From LNG liquefaction, bunkering, intermediate storage and break-bulking solutions, to project financing support and investment of LNG-related opportunities, the execution in the LNG last mile solutions will provide a platform to enhance our capabilities and value propositions,” said Peh Lam Hoh, Managing Director, SSB Cryogenic Services.
SSB Cryogenic Services, a subsidiary of SSB Cryogenic Equipment, specialises in a wide range of cryogenic and marine solutions such as marine purging, non-destructive testing, and turnkey project solutions.
SSB Cryogenic Equipment Pte Ltd is a subsidiary of Sing Swee Bee Group; it focuses on providing cryogenic and hydrocarbon bulk liquid, ISO tank leasing, repair, maintenance and re-certification services to the gas, marine and offshore industry. The company is the owner and lessor of the largest fleet of T-75 ISO tanks in Southeast Asia
GPS Singapore, the subsidiary of GPS Group, is an independent storage and logistics company. GPS Group was formed in 2016; it is backed by $500 million worth of funds managed by Blue Water Energy (BWE) and White Deer Energy (WDE).
Published: 28 November, 2018
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