px Group takes over operation of Gibraltar LNG terminal

We are delighted to announce that the operation of Gibraltar LNG terminal has been taken over by px Group.

The terminal, which supplies clean fuel to the Gibraltar Electricity Authority's power station, was commissioned in 2019.

Shell LNG Gibraltar Ltd (SLGL) transitioned the operations and maintenance of the site from Molgas Energy to px (Gibraltar) Ltd on 1st November. This was managed through a comprehensive handover plan, working in partnership with SLGL and Molgas Energy.

Gibraltar LNG terminal becomes the 26th strategic asset to be managed by our group across the UK and Europe.

CEO of px Group, Geoff Holmes, said: “We are delighted to be entrusted with the operations of Gibraltar's LNG terminal. We look forward to working closely with SLGL, the government of Gibraltar and the wider community to ensure the safe, reliable and efficient running of this vital facility for many years to come.”

SLGL's ownership and contractual structure remain unchanged. SLGL is 51% owned by Shell, and 49% by His Majesty's Government of Gibraltar.

Arias-Vasquez, Minister for Health, Care, and Business in Gibralter, added: “The LNG terminal is a critical part of Gibraltar's energy security, I warmly welcome px to Gibraltar and look forward to working with them as they bring their proven expertise and track record to this important facility. The government remains fully committed to the safe and reliable operation of the LNG terminal, which underpins Gibraltar's power generation and our wider energy strategy.”