This is a discussion on 3rd tank for LNG terminal within the Local & Foreign Issues forum, part of the Community Lounge category; SINGAPORE'S LNG terminal on Jurong Island will add a third Liquefied Natural Gas tank, in addition to the two already ...
SINGAPORE'S LNG terminal on Jurong Island will add a third Liquefied Natural Gas tank, in addition to the two already being built, to give the country greater flexibility to meet future gas needs and also to pursue new business opportunities.
Senior Minister of State for Trade and Industry and Education S Iswaran announced the addition of the 180,000 cubic m tank at the Power-Gen Asia Conference on Tuesday.
With the third tank, the terminal will have the capacity to handle 6 million tonnes per annum (Mtpa) of throughput, up from the initial 3.5 Mtpa.�
'Expanding the terminal now will allow Singapore to seize opportunities in the global LNG market and establish ourselves as a centre for LNG trading in Asia while meeting the growing needs of our domestic market,' said Mr Iswaran.
With a growing demand for electricity, there has been a stronger uptake of LNG by companies in Singapore, with six power firms inking LNG deals in the first quarter of 2010, the Singapore LNG Corporation said on Tuesday.
'There is also keen interest by industrial companies outside the power generation sector to purchase LNG to fuel new businesses and project expansions. This will add to the increase in LNG demand over time,' SLNG said.
Apart from providing an increased storage capacity to cope with new gas demand, the third tank is also 'expected to catalyse new business opportunities that would allow LNG traders to store and re-export LNG cargoes'.
3rd tank for LNG terminal