Singapore Plans Fourth Tank for LNG Terminal

Singapore plans to build a fourth storage tank for its liquefied natural gas (LNG) terminal by 2016-17, taking the total storage capacity to 9 million tonnes per annum, S. Iswaran, Second Minister for Trade and Industry told a conference on Wednesday, Reuters reported.

The first two tanks of the terminal with a total capacity of 3.5 million tonnes are expected to come online by the second quarter of 2013, while the third tank will be ready by the end of the year, the minister was quoted as saying by the newswire.

The three tanks will have a total capacity of 6 million tonnes per annum, Iswaran said. The facility is designed to allow for up to six tanks.

Singapore has been trying to position itself as an LNG trading hub for Asia as it is located in between producers such as Indonesia, Malaysia and Australia, and countries with growing demand such as China and India.