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Singapore : Samsung wins contract to build world's largest LNG storage tank in Singapore, expand terminal
Publish Date : 28-Aug-2014
SINGAPORE LNG Corporation(SLNG) has awarded a S$700 million engineering, procurement and construction contract for the Phase 3 expansion of the Singapore LNG Terminal to Samsung C&T Corporation.
The contract, signed on August 26, involves the further expansion of the terminal to include a fourth liquefied natural gas (LNG) storage tank and additional regasification facilities.
The expansion will boost the terminal's send-out capacity to around 11 million tonnes per annum (Mtpa) from the current six Mtpa. At 260,000 m3, the new fourth LNG storage tank will be the largest in the world, and able to receive a full cargo load from a Q-Max carrier, which is currently the largest LNG carrier in the world. John Ng, chief executive officer of SLNG, said the expansion would allow Singapore to respond to new business opportunities in the regional or global LNG markets.
Construction of Phase 3 is scheduled to begin by end-2014. The regasification facilities are expected to be completed by 2017, while the fourth tank is expected to be completed by 2018. The terminal's design also makes provisions for a possible future Phase 4 expansion, which may be considered at a later stage should the demand support the investment.
Singapore LNG Corporation was incorporated by the Energy Market Authority in June 2009 to develop, build, own and operate Singapore's first LNG terminal on Jurong Island. The Singapore LNG Terminal began operations in May 2013 with two storage tanks and an initial throughput capacity of 3.5 Mtpa. A third tank and additional regasification facilities were completed in January 2014, increasing the throughput capacity of the terminal to six Mtpa, and a secondary jetty was added to the operations in March 2014.
To date, the terminal has received 32 LNG vessels delivering more than 108 million mmBtu (million British thermal units), or about 2.06 million tonnes, of LNG to Singapore.
