In May 2018, Elite Petrochemical company in Myanmar launched its first phase of the $128 million LPG import and distribution terminal. The facility is located at Thilawa Special Economic Zone, about 25km to the south of Yangon city. The company stakeholders decided to develop the facility using a build-operate and transfer model. Notably, the facility includes a storage tank of 3000 tonnes and a jetty for handling cargo. Since the first phase is complete, the company has embarked on constructing the second phase to expand the storage capacity of its Myanmar oil and gas to 100,000 and LPG to 25,000 tonnes. Consequently, the terminal developed with state-of-art technology is the first private sector LPG handling and processing facility.
Arguably, the developments done by Elite petrochemical align with the government's efforts to expand Myanmar oil and gas imports to meet the ever-increasing energy demands. Myanmar's current power production is estimated to be 3200MW, but the power consumption is predicated on rising to 4351 by 2021. As a result, the Ministry of energy is laying down strategies to encourage many people to use LPG to ease pressure on the national grid so that industries can get more power. With support from the current government, Elite petrochemical has taken the advantage to partner with foreign investors to increase its Myanmar oil and gas supply not only in Yangon city in the entire state.
In its efforts to secure more foreign investment, Elite Petrochemical has made efforts to ensure its LPG facilities adhere to international safety standards. As a result, Elite Petrochemical has been able to import regularly about 4000-tonnes of LPG gas. Additionally, the company has also integrated its storage, warehousing, wholesaling, transportation, and jetty facilities to deliver its products and services. With all the above infrastructure and safety standards, all people who reside in Myanmar should be assured that Elite Petrochemical is the best company that can meet their LPG needs.