Myanmar Gets Petroleum Products Terminal
- Business & Finance
Puma Energy Asia Sun (P.E.A.S), a joint venture between energy company Puma Energy and logistics and trading firm Asia Sun Energy (ASE), has opened a petroleum products terminal at Thilawa Port, southeast of Yangon, Myanmar.
The duo invested USD 92 million in the terminal, which is said to be the country’s largest petroleum products terminal. Its storage facilities cater for a range of petroleum products, including commercial fuels, HFO, bitumen and jet fuel.
With a fuel storage capacity of 91,000 cubic meters, Thilawa terminal is the first of its kind for the petroleum industry in Myanmar, according to Puma Energy.
“Puma Energy Asia Sun has invested close to USD 100 million 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,” David Holden, General Manager of Puma Energy Asia Sun, said.
The Puma Energy Asia Sun terminal is also 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, the company added.