Transition of operatorship at LNG terminal

The Minister for Health, Care and Business, who also has responsibility for Public Utilities, Gemma Arias Vasquez, has announced that Shell LNG Gibraltar Ltd (SLGL) will transfer the operations and maintenance of Gibraltar’s LNG terminal from Molgas Energy to px (Gibraltar) Ltd.

The terminal, which provides fuel to the Gibraltar Electricity Authority’s power station, has been operated by Molgas Energy, previously known as GASNOR, since its commissioning in 2019. Molgas’ parent company, ME Group, has revised its business strategy and is withdrawing from operations and maintenance services.

Following a market review and due diligence process by SLGL, px (Gibraltar) Ltd, part of the UK-headquartered px Group, has been selected as the new operator. px Group, a portfolio company of Ara Partners, has almost four decades of experience in developing, commissioning, operating and managing large-scale energy projects across the UK and Europe. The Group manages 25 strategic assets, including 11 high-hazard COMAH and SEVESO sites, and owns and operates Saltend Chemicals Park in the UK.

The transition will be managed through a handover plan, with completion expected in November 2025. SLGL’s ownership and contractual structure will remain unchanged, with Shell holding a 51 per cent stake and the Government of Gibraltar owning 49 per cent.

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 Shell LNG Gibraltar Ltd, 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.”

The Minister for Public Utilities, Gemma Arias Vasquez, said: “The LNG terminal is a critical part of Gibraltar’s energy security and has been operated to the highest safety standards since 2019.”

“I want to thank the Molgas Energy team for their professionalism and dedication over the past six years, and for their support in ensuring a smooth handover.”

“I also 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.”