24 October 2012 05:54 [Source: ICIS news]
SINGAPORE (ICIS)--Singapore is planning to build a fourth storage tank for its first liquefied natural gas (LNG) terminal on Jurong Island by 2016 or 2017, a senior government official said on Wednesday.
The tank, which will cost about $500m, will boost the terminal's capacity to 9m tonnes/year, said S Iswaran, the city-state's second minister for home affairs and trade and industry.
He was speaking at Gas Asia Summit in Singapore which will run on 24-25 October. The event is part of the annual Singapore Energy Week.
The first phase of the LNG terminal development with two LNG storage tanks is nearly complete and is on track to begin commercial operations in the second quarter of 2013, allowing the facility to handle 3.5m tonnes of throughput a year, Iswaran said.
A third LNG storage tank is expected to be completed by the fourth quarter of 2013 and will increase the throughput capacity to 6m tonnes/year, he said.
"This fourth tank will enhance our energy security by allowing further diversification of our fuel sources," Iswaran added.
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