Thursday, May 15th, 2014
SEOUL, KOREA - SK Gas Co. will build liquefied petroleum gas receiving terminals in Singapore in partnership with Royal Vopak N.V., a Dutch company that specializes in storage and handling of oil and natural gas-related products. The 40,000-ton LPG terminals will be located in Jurong Island's petrochemical industrial complex. The project will begin this month and see completion by early 2016.
The latest project is part of a wider program called "Jurong Island 2.0" under which the Singaporean government seeks to improve the global competitiveness of its petrochemical industry. SK Gas is a 20-percent owner int he LPG terminal joint venture.
The two partners will supply the gas to major petrochemical producers in Singapore through pipelines. An SK Gas official said, "It was a preemptive response on our part based on an outlook that the LPG demand will soar in Asia as the low-cost shale gas-based LPG supply increases rapidly."