YANGON, Myanmar, May 8, 2017 /PRNewswire/ --
Puma Energy Asia Sun (P.E.A.S), a joint venture 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.
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This USD92 million investment into the country's largest and most modern 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 91,000mcubed, 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 USD100 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," said David Holden, General Manager of Puma Energy Asia Sun.
P.E.A.S has hired 80 full-time staff the majority of whom are local hires. They have received training to ensure the reliable supply of high quality products handled to international safety standards.
"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 unique features include sophisticated fire-fighting systems, a robust emergency management plan and containment systems.
About Puma Energy
Puma Energy is a global integrated midstream and downstream oil company active in over 45 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. The company directly manages over 7,650 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan (Puerto Rico), and Tallinn (Estonia).
Puma Energy's core activities in the midstream sector include the supply, storage and transportation of petroleum products. Puma Energy's activities are underpinned by investment in infrastructure which optimises supply chain systems, capturing value as both asset owner and marketer of product. Puma Energy's downstream activities include the distribution, retail sales and wholesale of the full range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma Energy currently has a global network of over 2,500 retail service stations. Puma Energy also provides a robust platform for independent entrepreneurs to develop their businesses, by providing a viable alternative to traditional market supply sources.
For further information, please visit: http://www.pumaenergy.com.
About Asia Sun Energy
Asia Sun Energy (ASE) is a local company experienced in logistics and fuel trading in Myanmar. Asia Sun Energy was set up by a group of young Myanmar entrepreneurs who were educated abroad and returned to Myanmar in 2013.
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