Singapore has confirmed plans to construct a fourth storage tank at its sole liquefied natural gas (LNG) terminal on Jurong Island. The investment is being made to enhance the city-state's energy security by allowing further diversification of its fuel sources.
Minister for Home Affairs & Trade and Industry S. Iswaran said that the additional tank will boost the terminal’s capacity to roughly nine million tonnes per annum. Speaking at the Gas Asia Summit (GAS), he noted that the first phase of the $1.7 billion LNG terminal development, with two storage tanks, is on track to start commercial operations in the second quarter of next year. A third storage tank is scheduled for completion by the fourth quarter of next year, while the fourth is due to begin in 2017.
This additional storage, Iswaran said could fuel business opportunities such as LNG trading, break-bulk services and LNG bunkering.
PetrolWorld 25102012