Singapore: Singapore-based LPG logistics giant Petredec has entered into a Memorandum of Understanding with a terminal operator regarding facilities for the storage of LPG in South Africa.
The operator will build and lease storage facilities to Petredec encompassing a minimum of 20,000 metric tonnes in Richards Bay and 5,000 metric tonnes in Johannesburg. The facility at Richards Bay will include bonded storage and is expected to supply other ports in South Africa as well as seaborne exports to contiguous nations.
Giles Fearn, chief executive of Petredec, said “Petredec currently supplies the majority of South Africa’s imported LPG, and with these facilities we will be able to bring in larger ships and deliver larger cargoes, which is more efficient and thus should result in more competitively priced imported gas. Additionally, we can help South Africa to avoid the shortages that have occurred in recent years during cold winters and refinery shut-downs.” [28/02/14]