Petredec and Bidvest Tank Terminals today announced they have entered into an agreement for the development of a new facility for the import and storage of LPG in Richards Bay, South Africa. The facility will be a 22,600 tonne storage facility at Bidvest’s existing site in Richards Bay.
The completed facility will be the world’s largest pressurised LPG import terminal, featuring four mounded tanks, each capable of storing more than 5,500 metric tonnes of gas.
“Despite growing demand in domestic and regional markets, LPG imports have historically been hampered by high costs resulting from South Africa’s small coastal terminals and distance from major supply hubs. The commissioning of this new large scale facility – also capable of seaborne re-exports to neighbouring countries – will unlock previously unattainable economics resulting in lower supply prices to the local market,” Petredec said in a release.
The facility should be up and running in the final quarter of 2019.