Singapore to Build Second LNG Terminal

MarineLink.com
Tuesday, February 25, 2014
Singapore Prime Minister Lee Hsien Loong

Reuters - Singapore plans to build a second terminal for liquefied natural gas (LNG), as it aims to create a regional trading hub for the fuel, Prime Minister Lee Hsien Loong said on Tuesday.

The city-state - located strategically on the main shipping route between Europe and Asia - started commercial operations of its first LNG terminal in May last year with an initial capacity of 3.5 million metric tons per year (tpy).

A new storage tank that increases the capacity to 6 million tpy was officially opened on Tuesday. The terminal's capacity will be increased to 9 million tpy in 2017, while another 6 million tpy can be added at the site, Lee said at the opening.

"But that is the limit because of land constraints, hence we will also build a second LNG terminal," he said, adding that potential sites in eastern Singapore are being studied.

The new terminal will also support industrial sites and power plants, the prime minister said.

Singapore aims to position itself as an LNG trading hub for Asia as it is located between producers such as Indonesia, Malaysia and Australia, and countries with growing demand such as China, India and Thailand.

Several global players, such as GDF Suez, BP and Statoil, have already set up LNG trading desks in the city-state over the last several years.

(Reporting By Jacob Gronholt-Pedersen; Editing by Pravin Char)

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Hong Kong Tin Hau Festival

The Tin Hau Festival at Tai Miu Wan will be celebrated this year on 22 April 2014. Coxswains, owners and operators of local vessels are advised that arrangements

Port New Orleans Unveils New Logo

The Board of Commissioners of the Port of New Orleans unveiled a new modern, streamlined logo today to kick-off the 6th annual Critical Commodities Conference.

Valparaiso Port Partially Operative after Fire

The port at Chile’s Valparaiso is operating and terminals working, albeit at a slower than usual pace, despite the effects of the fire which swept through part of the city at the weekend,

LNG

Ukraine launches restricted operation

Ukrainian forces launched a "special operation" on Tuesday against separatist militia in the Russian-speaking East, authorities said, although aside from a landing

OSC Plans Fleet Expansion through 2018

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report,

LNG Bunkering Will Develop Fast - LR Study

Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering.

News

Hong Kong Tin Hau Festival

The Tin Hau Festival at Tai Miu Wan will be celebrated this year on 22 April 2014. Coxswains, owners and operators of local vessels are advised that arrangements

Fire Aboard US Warship Transiting Atlantic Ocean

U.S. Fleet Forces Command inform that a fire broke out aboard 'USS Hue City' (CG 66) as the ship was transiting the Atlantic.
 Hue City had departed Mayport, Fla.

Three NOAA scientists honored by White House

The White House yesterday awarded three NOAA scientists with Presidential Early Career Awards for Scientists and Engineers. The award is the highest honor given

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1129 sec (9 req/sec)