Global petro storage announces its launch

01 Dec 16

GLOBAL PETRO STORAGE ANNOUNCES ITS LAUNCH WITH FIRST ACQUISITION OF HYDROCARBON HOTEL IN AMSTERDAM FROM VARO ENERGYSingapore, December 1st2016. Global Petro Storage Group (“GPS” orthe “Company”) today announceditslaunch to the market in conjunction withits first acquisition. GPS is acquiring full ownership ofHydrocarbon Hotel B.V. (“HCH”) from Varo Energy (“VARO”).

GPS Group is an independent storage and logistics company, formed in 2016,backed by funds managed by Blue Water Energy (“BWE”) and White Deer Energy (“WDE”). GPSwill deploy up to $500m in equitycapitalin key global storagehubs 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 Arnoldhas an extensive track record, withover 34 years of delivering storage developments, having successfully delivered 9 brownfield and6 greenfield developments over his career. Prior to becoming MD of VTTI Asia, Mr. Arnold was the COO of VTTI Group and previously he was the CEO of threejoint venture companiesfor Vopakand VTTI.

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 hydrocarbon, LNG and chemical trade flowswill be our benchmark strategy” stated Eric Arnold. “The global team we have assembled is best in class and I look forward to working with them and our partners to deliverour vision”.

GPS is pleased to announcethe acquisition of Hydrocarbon Hotelfrom VARO. HCH is a moderngasolinestorage and blending terminal located in the Port of Amsterdam with atotalexistingcapacity of 148,500m3and 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 marketand our track record in this space is testimony to that. Eric, supported by a highly experienced Executive Chairman, Andrew Winser formerly with Shell Trading, as well as the broader management team, has a clear strategy and execution plan. I am pleased that Blue Water Energy will be helping the team deliver this plan”. Tom Edelman, Managing Partner at White Deer Energy, added “There is a clear market opportunity for a new global midstream and logisticscompany and with the experience this team brings to GPS, it positions this company wellfor 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 opportuniy