Singapore LNG Invites Bids for Tank Use
Singapore LNG invited bids December 5 for use of the fifth LNG storage tank that it plans to build at its receiving terminal.
"As part of continuing efforts to develop Singapore as an LNG trading hub, SLNG will be able to construct another LNG storage tank at the terminal and is keen to explore interest in the market to underpin this facility. SLNG is thus seeking non-binding Expressions of Interest [EoI] from interested parties (bidders) for the use of this new tank, in order to assess the market demand for such additional infrastructure," it said.
According to SLNG, the EoI should contain an indicative price offer (in USD) and a proposal for how the tank could be used. "However, SLNG is also open to considering alternative proposals and different structures, so long as they meet SLNG’s objectives," it added.
According to SLNG’s preferred terms the tank capacity should be either 180,000 m3 or 260,000 m3 and be full containment or membrane type, and the potential period of use should be long-term of at least 15 years. The potential start up date should be around 2022 or 2023.
EoIs should be submitted by February 28, 2019 and successful bidders will be offered a detailed request for proposals, to be issued by SLNG at a later date, subject to the prior approval of the Energy Market Authority.
SLNG owns and operates Singapore’s first LNG import terminal, which is located on Jurong Island, and has an annualised average throughput capacity of 9mn mt/yr with four LNG storage tanks. At present, all four storage tanks are in use.