Marine Link
Sunday, July 15, 2018

Trafigura, Singapore LNG Sign Storage Agreement

Maritime Activity Reports, Inc.

June 23, 2015

Photo: Singapore LNG Corporation (SLNG)

Photo: Singapore LNG Corporation (SLNG)

 The Singapore SLNG Corporation and Commodities trading firm Trafigura have signed a storage agreement for the excess capacity within the Singapore LNG terminal on Jurong Island.

 
John Ng, CEO at SLNG, operator of the country's first LNG terminal, says: "SLNG is very pleased to off our storage and reload services to multinational commodity trading house, Trafigura. This agreement will not only allow our company to better optimize the use of the spare capacity at our terminal, it is also a step forward in facilitating LNG trading out of Singapore."
 
The company said earlier in the year that it had more than 180,000 m3 of storage available until the end of the year.
 
The amount of capacity leased was not revealed. Hadi Hallouche, head of LNG at Trafigura adds: 'We are proud to have been selected by SLNG for this term storage agreement which further enhances Trafigura's ties with the state of Singapore and will help us demonstrate our commitment to security of supply for our Asian customers.' 
 
Singapore has invested millions of dollars in SLNG as it wants to be the LNG trading hub for Asia.
 
Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News