News

01 December 2016

GLOBAL PETRO STORAGE ANNOUNCES ITS LAUNCH WITH FIRST ACQUISITION OF HYDROCARBON HOTEL IN AMSTERDAM FROM VARO ENERGY

01 December 2016

Singapore, December 1st  2016. Global Petro Storage Group (“GPS” or the “Company”) today signaled its launch to the market by announcing its first acquisition which is Hydrocarbon Hotel (“HCH”) from Varo Energy (“VARO”).

GPS Group is an independent storage and logistics company backed by funds managed by Blue Water Energy (“BWE”) and White Deer Energy (“WDE”), and will deploy up to $500m in equity in key product flow hubs over the next three to five years 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. Mr Arnold has an extensive track record over 34 years of delivering storage developments, having successfully delivered 9 brownfield and 6 greenfield developments over his career. Prior to becoming MD of VTTI Asia, Mr. Arnold was the COO of VTTI Group and previously he was CEO of three JV companies for Vopak.

Mr. 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. 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.

“A focus on customer specific strategies delivering unparalleled levels of access to global focus and trade will be our benchmark strategy” stated Eric Arnold. “The global team we have assembled is the best in class and I look forward to working with them and our partners delivering our vision”

GPS is pleased to announced the acquisition of Hydrocarbon Hotel from VARO.  HCH is a modern storage and blending terminal for Class 1 petorleum products located in the Port of Amsterdam and has a total capacity of approximately 150,000m3 and three dedicated berths which are 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.

Tom Sikorski, Partner BWE commented “At Blue Water Energy we understand this market and our track record in this space is testimony to that. Eric, backed by the highly experienced Chairman of Andy Winser, Ex Shell Trading and his broader team, has a clear strategy and plan and I am pleased that Blue Water Energy we will be helping them deliver this”

Ben Guill, Managing Partner at White Deer Energy, added “There is a clear market opportunity for a new global midstream and logisticsfs company 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 opportunity.

About GPS:

For more information about GPS Group please visit: www.gpsgroup.com

 

Back