Puma Energy joint venture opens petroleum products terminal in Myanmar
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 logistics and trading company based in Myanmar, have opened a petroleum products terminal in Thilawa port, southeast of Yangon, Myanmar.
Myanmar has recently allowed foreign direct investment in this sector. The Thilawa terminal is so far the largest and most modern petroleum products import terminal in Myanmar. The terminal has the facility to store a range of petroleum products, including gasoline and diesel fuel, heavy fuel oil, bitumen and jet fuel. Investment in the terminal with a fuel storage capacity of 91,000 cubic metres is USD92 million.
“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.
The Thilawa terminal is the first storage terminal 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 firefighting systems, a robust emergency management plan and containment systems.
“We are proud to set a standard in the industry with our infrastructure, modern quality control processes and independent onsite 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.