Shell LNG Gibraltar (SLGL) is to switch the operations and maintenance of Gibraltar’s LNG terminal from Molgas Energy to px (Gibraltar) Ltd.
The LNG terminal, which supplies clean fuel to the Gibraltar Electricity Authority’s power station, has been operated by Molgas Energy since its commissioning in 2019.
Molgas’ parent company, ME Group, has revised its business strategy and is stepping away from operations and maintenance services.
Following a detailed market review and due diligence process by SLGL, px (Gibraltar) Ltd, part of the UK-headquartered px Group, has been chosen 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 completion of the handover is anticipated in November, 2025.
SLGL’s ownership and contractual structure will remain unchanged with 51% owned by Shell, and 49% by the Gibraltar Government.
