16 July 2013 07:57 [Source: ICIS news]
SINGAPORE (ICIS)--Shell, Sinopec and Total have set up a joint venture to build a shared lube park in Singapore – the first of its kind in the industry.
Singapore Lube Park Pte Ltd was formed by Shell Eastern Petroleum Pte Ltd, Sinopec Lubricant (Singapore) Ptd Ltd and Total Oil Asia Pacfic Pte Ltd, Anglo-Dutch energy major Shell said in a statement on Tuesday.
Sinopec is a Chinese petrochemical giant, while Total is a French energy major. Investment details and ownership breakdown of the lube park project were not disclosed.
“It [lube park] will cover operations of shared facilities, including an import and export jetty, common pipelines, infrastructure and exclusive storage facilities to service the partners’ respective new Lube Oil Blending Plants (LOBP) and Grease Manufacturing Plants (GMP), which will be located on separate sites adjacent to the lube park,” Shell said.
Construction of the lube park is planned to start later this year and is targeted for completion by 2015, Shell said.
Shell’s new LOBP and GMP in Tuas will replace its Woodlands plant, while Total will build a new LOBP in Tuas to replace its two existing plants in Jurong Pandan and in Pioneer, in the city-state.
Sinopec, on the other hand, recently started operations at its new LOBP and GMP – its first lubricant production facilities outside of China.
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