02 November 2010 05:09 [Source: ICIS news]
SINGAPORE (ICIS)--Singapore is building a 180,000 cubic metres liquefied natural gas (LNG) tank in the city-state’s chemicals hub on Jurong Island to meet growing demand for the commodity, a government official said on Tuesday.
Construction of the new LNG tank would be completed in 2013, said Lawrence Wong, Chief Executive of Energy Market Authority of Singapore.
Meanwhile, two similar-sized tanks were currently being built at a new LNG terminal in the southwestern part of Jurong Island, he added.
The terminal would be Singapore’s first and was also scheduled to be completed by 2013, said Wong.
The addition of the third tank would boost the terminal’s capacity to handle some 6m tonnes/year of throughput, up from the initial 3.5m tonnes/year of capacity announced last year, Wong said.
“Demand for LNG is expected to grow not only from power-generation companies, but [also from] industrial sectors – to be used as feedstock,” he said, without elaborating further.
Demand from power-generation companies has increased from the initial 1.5m tonnes/year of regasified LNG to 2m tonnes/year, after their gas volume contracts were recently finalised, Wong said.
The terminal would also establish Singapore as a centre for LNG trading in Asia, because of its storage and transhipment abilities, he added.
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