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Singapore to expand new LNG terminal with fourth tank

Singapore to expand new LNG terminal with fourth tank
Singapore plans to add a fourth tank to its LNG terminal that officially opened on Tuesday.

The terminal, which started operations in May 2013, currently has three tanks with a capacity 6m tonnes per annum, with a second jetty opening in March.

“Plans to add a fourth tank and more facilities to bring the terminal’s throughput capacity to at least 9m tonnes per annum are well under way,” Bob Tan, chairman of Singapore LNG said at the official opening ceremony.

“We are in the midst of the tender process to select a suitably qualified contractor and the final investment decision, including the award of the Engineering, Procurement and Construction (EPC) contract, is expected at the end of Q2 of this year.”

To date 18 LNG vessels have called the terminal delivering 1.08m tonnes of LNG.

Singapore continues in its ambitions to grow as LNG trading hub and has actively attracted supporting services companies to set up in the city state.

“More than 20 companies have already established or expanded their LNG desks in Singapore, with activities ranging from market research, trading, marketing, origination, operations and risk management functions. In addition, there are LNG service firms such as ship brokers, law firms and price reporting agencies growing their operations here to support the LNG industry,” S Iswaran, Minister Prime Minister’s Office, said at a conference on Tuesday.

“We hope to see more market players establish a presence in Singapore.  This will not only support the growth of the domestic gas market, but will also allow Singapore to contribute to efforts to build deeper regional gas markets by serving as a trading and pricing hub for LNG.”

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