Trafigura, Singapore LNG ink storage agreement

Trafigura, a commodity trading house, and Singapore LNG Corporation, operator of the country’s first liquefied natural gas terminal, have signed a storage agreement to utilise excess capacity within the Singapore LNG terminal on Jurong Island.

“This agreement will not only allow our company to better optimise the use of the spare capacity at our terminal, it is also a step forward in facilitating LNG trading out of Singapore,” said John Ng, Chief Executive Officer at SLNG.

In February, Singapore LNG offered storage & reload service on a spot or short-term basis allowing the customer to berth an LNG vessel at the terminal to unload a quantity of LNG and store it for a period of time, before reloading the LNG cargo onto one or more LNG vessels for delivery to a market.

SLNG set aside over 180,000 cubic metres of storage capacity, of which up to 180,000 cubic metres can be made available on a segregated basis.

LNG World News Staff; Image: Singapore LNG