Slovenia's Petrol Opens LPG Storage Depot in Serbia's Smederevo

Slovenian energy company Petrol [LJE:PETG] said it has opened a 5.0 million euro ($6.2 million) liquified petroleum gas (LPG) storage terminal in the central Serbian town of Smederevo.

The terminal, with a storage capacity of 3,000 cubic metres, will be used by Petrol as a hub for the distribution of LPG in Southeast Europe, the company said in a statement made available to SeeNews on Thursday.

The main advantage of the new terminal is that its location provides access to river, road and railroad infrastructure, it added.

The Slovenian company said in its 2013 annual report that the main purpose of building the terminal in Smederevo is to gain access to LPG sources in Russia, Belarus, Ukraine and Romania.

Petrol entered Serbia's LPG market with the establishment in 2013 of Petrol LPG where it owned 51% at the time it was incorporated. Last year, Petrol LPG sold 12,200 tonnes of LPG, generating 10.6 million in net sales revenue.

In Serbia, Petrol also operates filling stations - which numbered eight at the end-September, and is active on the local gas distribution market.

Source: SeeNews