Singapore’s first liquefied natural gas terminal, located on Jurong Island, is about 80 per cent complete.
The LNG terminal’s good progress was shared by Mr Neil McGregor, Chief Executive Officer of Singapore LNG Corporation Pte Ltd (SLNG) during a visit to the terminal’s 30-hectare site by Mr S Iswaran, Minister in the Prime Minister’s Office and Second Minister for Home Affairs and Trade & Industry.
Mr McGregor added that since the terminal’s groundbreaking in March 2010, construction of key installations including the first two LNG storage tanks and the primary jetty are well underway.
The current LNG aggregator for Singapore, BG Singapore Gas Marketing has sold about 2.65 Mtpa of LNG and is expected to reach 3 Mtpa by 2013.
As BG has an exclusive licence to import LNG and sell regasified LNG in Singapore for up to 3 Mtpa of LNG or until the year 2023, whichever is earlier, a study is underway to explore several possible frameworks for future importation of LNG once BG’s contract ends.
To this, Mr Iswaran announced at the visit that the Energy Market Authority will be issuing a post-3Mtpa LNG import consultation paper to gather industry and public feedback in March 2012.
Noting that the needs of consumers and the LNG terminal’s efficiency are key considerations for the framework, Mr Iswaran stressed that the eventual framework should allow Singapore to continue to access competitively-priced and reliable supplies of LNG.
The LNG terminal will have a throughput capacity of 3.5 million tonnes per annum (Mtpa) when it is operational in the second quarter of 2013.
This capacity will increase to 6 Mtpa by the end of 2013 when additional jetties and regasification facilities are completed.
The terminal’s third tank is targeted for completion by the first quarter of 2014.
[mappress]
LNG World News Staff, February 13, 2012