SLNG to sound market for fifth storage tank
Add BT as a preferred sourceSINGAPORE LNG Corp (SLNG) plans to approach the market to size up the demand for a fifth storage tank at its terminal on Jurong Island.
The move is coming on the back of increasing LNG trading activity, mainly backed by China's enormous appetite for the cleaner burning fossil fuel and a renewed push to sanction more LNG supply projects.
SLNG intends to issue a non-binding expression of interest this year or early next year to determine if "there is any real demand for additional liquefied natural gas (LNG) storage capacity".
It emphasised that this upcoming exercise is just "an initial exploratory step". The market responses will go towards a decision on whether to pursue the construction of the fifth tank.
SLNG now owns and operates four storage tanks with total capacity of 800,000 cubic metres.
Share with us your feedback on BT's products and services
TRENDING NOW
High Court rejects bid to bring ST Engineering unit into trademark infringement suit over RSAF aircraft parts
Ex-Sakae director Ong Siew Kwee handed 10.5-year jail term for misappropriating S$15.8 million, lying in court
DBS sees choppy Q3 for STI as investors pivot from Singapore banks to listcos that are unlocking value
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
