Tuesday, December 10, 2013

SINGAPORE: Vopak to build Southeast Asia’s first independent LPG storage facility on Jurong island

(EnergyAsia, December 10 2013, Tuesday) — Dutch oil and chemicals storage giant Royal Vopak has announced that it will be building Southeast Asia's first independent liquefied petroleum gas (LPG) facility in Singapore.

Vopak said it expects to complete the refigerated import terminal on Jurong island with an initial capacity of 80,000 cubic meters (cbm) in the first quarter of 2016.

"The facility will be connected via pipeline to nearby plants and will allow for LPG import and distribution in Jurong Island in a safe and efficient manner," said a Vopak statement which added that it had signed up ExxonMobil as its first anchor customer for its latest project.
It did not reveal the cost of the project which will add to Jurong Island's feedstock flexbility.

"This project fits well in Vopak's overall strategy, as gas will become an interesting alternative for naphtha. This LPG facility not only caters to the rising petrochemical needs of alternative and cost effective feedstock in Singapore, it also has the potential to lead in the facilitation of regional imports," said Vopak chairman and CEO Eelco Hoekstra.

"Asia's appetite for LPG is growing. Supply developments in the US, the Middle East and potentially Australia will cover a growing LPG demand in Asia. As such, we see the opportunity to capture these imports with an independent LPG terminal in the region."

"Singapore is a natural choice as it is home to several large petrochemical complexes and we already have an established presence supported by excellent relationships with local authorities. Most importantly, building on the success of Singapore as an oil hub, there is potential for a regional hub for LPG and we are keen to be part of this growth."

Vopak and its partners currently own and operate LPG terminals in China, Pakistan, the Netherlands and Peru with a total capacity of 431,200 cubic metres (cbm).

 




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