Singapore mulls second LNG terminal

And a fourth storage tank at the Jurong Island terminal will be finished in 2018.

Singapore is boosting efforts to establish itself as Asia's liquefied natural gas (LNG) trading hub, looking at third party spot imports and a second LNG terminal, while LNG bunkering services will start next year.

The city state, already one of the world's leading oil trading centres, is vying with Tokyo and Shanghai to become Asia's main pricing hub for the emerging LNG market as the fuel moves away from being traded almost exclusively through long-term contracts.

"These developments will increase the vibrancy of the Singapore gas market, and grow its regional footprint," trade and industry minister S. Iswaran said at the opening of the Gas Asia Summit.

Singapore already has an LNG price index, the Singapore Exchange's SLInG, and has developed infrastructure like storage tanks to support trading activities in the region.

LNG throughput capacity at its Jurong Island terminal will rise by 5 million tonnes per annum (mtpa) to 11 mtpa early next year, while a fourth storage tank at the site will be completed in 2018, Iswaran said. Singapore was also considering a second LNG terminal, he said, without giving details.

Here's more from Reuters.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia