The government of Gibraltar announced in a statement last week that Shell LNG Gibraltar (SLGL) will transition the operations and maintenance of Gibraltar’s LNG terminal from Molgas Energy to PX (Gibraltar) Ltd.
The LNG terminal, which supplies fuel to the Gibraltar Electricity Authority’s 80 MW power station, has been operated by Gasnor, now part of Molgas Energy, since its commissioning in 2019.
In 2021, Shell sold Gasnor to Molgas, but it retained its interest in the Gibraltar LNG facility, and Gasnor remained the operator of the facility.
However, Molgas’ parent company, ME Group, has revised its business strategy and is stepping away from operations and maintenance services, according to the statement.
Following a detailed market review and due diligence process by SLGL, PX (Gibraltar), part of the UK-headquartered px Group, has been selected as the new operator.
PX Group, a portfolio company of Ara Partners, brings almost four decades of experience developing, commissioning, operating, and managing large-scale energy projects across the UK and Europe, the statement said.
The transition will be managed through a comprehensive handover plan, with completion anticipated in November 2025.
Importantly, SLGL’s ownership and contractual structure remain unchanged.
SLGL is 51 percent owned by Shell, and 49 percent by the government of Gibraltar.
The facility features five double-walled stainless-steel tanks, each able to hold 1,000 cbm of LNG.
