Singapore-based turnkey service provider and EPC company SSB Cryogenic Services (SSB) today inked a $50m collaboration agreement with Global Petro Storage (GPS) Singapore to expand and develop small-scale LNG supply chain solutions in Southeast Asia.
The agreement was signed by Peh Lam Hoh, Managing Director of SSB Cryogenic Services, and Eric Arnold, CEO of GPS Singapore, this morning at the Marina Bay Sands Expo and Convention Centre in Singapore, as part of Asia’s largest oil and gas industry event – OSEA2018.
Held over three days, OSEA highlights the growing demand for gas and its outlook in Asia, as well as the importance for businesses in the sector to embrace digitalisation and adopt new innovations.
With a global push for cleaner energy source, coupled with the announcement on a global cap on sulphur content of marine fuel, 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 LNG in small-scale aspect, to locations with limited access of 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,” highlighted 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.”
Commenting on the deal signed, Eric Arnold said, “GPS believes that gas is the fuel of the future and thus is focused on developing optimal onshore and/or offshore infrastructure needed to allow suppliers to access the respective demand centres.”
gasworld was invited to attend the signing ceremony, which was witnessed by Dr. Tan Wu Meng, Senior Parliamentary Secretary, Ministry of Foreign Affairs and Ministry of Trade and Industry.