Puma Energy opens Myanmar’s largest petroleum products terminal
YANGON, Myanmar -- Puma Energy Asia Sun, a JV between Puma Energy, the global mid and downstream energy company, and Asia Sun Energy (ASE), a local company experienced in logistics and trading in Myanmar, celebrated the opening of its petroleum products terminal at Thilawa port, southeast of Yangon.
This $92-MM investment into the country's largest petroleum products terminal is a first of its kind for the petroleum industry in Myanmar, which has just opened up to foreign direct investment in this area.
With a fuel storage capacity of 91,000 m³, the Thilawa terminal is the largest and most modern refined products import terminal in Myanmar. Its storage facilities cater for a range of petroleum products, including commercial fuels (Mogas 95 and 92, low sulphur Diesel), HFO (heavy fuel oil typically used for power generation), bitumen and jet fuel.
"Puma Energy Asia Sun has invested close to $100 MM in this vital fuel infrastructure to support the long-term economic development of the country. The Thilawa terminal will support Myanmar's increasing need for transport fuel and contribute towards the nation's development," said David Holden, General Manager of Puma Energy Asia Sun.
PEAS has hired 80 full-time staff, the majority of whom are local hires.
"We are proud to set a standard in the industry with our infrastructure, modern quality control processes and independent on-site lab. We are confident that these unique features will establish Puma Energy Asia Sun as a reliable provider of high quality fuels in Myanmar," said Win Kyaw, Chairman of Puma Energy Asia Sun.
The Puma Energy Asia Sun terminal is the first in Myanmar to be built to American Petroleum Institute (API), American Society Mechanical Engineering (ASME) and National Fire Protection Association (NFPA) international guidelines for construction, safety and environmental standards. Some of the site's features include sophisticated fire-fighting systems, a robust emergency management plan and containment systems.
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