Singapore-headed Global Petro Storage Group (GPS), a newly formed independent storage and logistics company has announced its launch to the market in conjunction with its first acquisition. GPS is acquiring full ownership of Hydrocarbon Hotel B.V. (HCH) in Amsterdam, the Netherlands (HCH) from VARO Energy.
GPS Group is an independent storage and logistics company, formed in 2016 and backed by funds managed by Blue Water Energy (BWE) and White Deer Energy (WDE). GPS will deploy up to US$500 million in equity capital in key global storage hubs with a focus on brown and greenfield investments.
GPS is led by Chief Executive Officer Eric Arnold, the former Managing Director of VTTI Asia, based in Singapore. Arnold has an extensive track record, with over 34 years of delivering storage developments, having successfully delivered 9 brownfield and6 greenfield developments over his career. Prior to becoming MD of VTTI Asia, Arnold was the COO of VTTI Group and previously he was the CEO of three joint venture companies for Vopakand VTTI.
Eric Arnold is joined by Peter Vucins (BD EMEA), Goh Yong Seng (BD Far East), Jim Miller (BD Americas) and Sim Seow Wah (Group CFO), based across the Netherlands, China and USA.
A focus on customer-specific strategies delivering unparalleled levels of access to global hydrocarbon, LNG and chemical trade flows will be our benchmark strategy. The global team we have assembled is best in class and I look forward to working with them and our partners to deliver our vision, said Eric Arnold.
The team is also supported by Executive Chairman, Andrew Winser, who has over 40 years of industry experience and in his last role, he was Head of International Business Development for Shell’s Oil Trading Business.
At Blue Water Energy we understand this market and our track record in this space is a testimony to that. Eric, supported by a highly experienced Executive Chairman, Andrew Winser formerly with Shell Trading, as well as the broader management team, has a clear strategy and execution plan. I am pleased that Blue Water Energy will be helping the team deliver this plan, commented Tom Sikorski, Partner BWE.
GPS also announced its first acquisition, Hydrocarbon Hotel from VARO. HCH is modern gasoline storage and blending terminal located in the Port of Amsterdam with a total existing capacity of 148 500 m3 and three dedicated berths accessible to sea and inland vessels.
VARO will continue to utilize the storage capacity of HCH and GPS is pleased to establish this new long-term partnership.
There is a clear market opportunity for a new global midstream and logisticscompany and with the experience, this team brings to GPS, it positions this company well for the future. We at White Deer Energy look forward to working with Eric and his team and partner with Blue Water Energy on this exciting opportuniy, said Tom Edelman, Managing Partner at White Deer Energy.