Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-09-04 17:50:00

SINGAPORE: FIRST UNDERGROUND 1.47 MLN M3

SINGAPORE: FIRST UNDERGROUND 1.47 MLN M3

Singapore has launched the first phase of an underground oil storage terminal comprising five caverns with the capacity to hold a total of 1.47 million cubic metres of crude and condensate, and nine km of tunnels.

State industrial landlord JTC Corp invested a total of S$1.7 billion to develop Southeast Asia's first underground oil terminal including $950 million for the caverns located 150m below Jurong Island's energy and chemicals hub. (US$1=S$1.25). Located 130m under the seabed, two of the operating caverns have been leased to Jurong Aromatics Corporation to store condensate while the other three are due to start up in 2016.

JTC Corp began planning for the project in 2000 in response to the oil and petrochemical industry's growing demand for land on an increasingly congested Jurong Island. JTC Corp launched construction in February 2007 just as China, South Korea, Malaysia, Indonesia and the Philippines started expanding their oil, gas and chemical storage capacities.

At the project's official launch on Tuesday, Singapore's Prime Minister Lee Hsien Loong described its development to free up the use of 60 hectares of open land as innovative, challenging and rewarding. By undertaking this "risky and expensive" venture, he said Singapore underlined its resolve to remain a world-class oil and petrochemicals hub despite its lack of land and growing competition from the region.

JTC chairman Loo Choon Yong estimates that the construction of the underground caverns, measuring 27m high, 20m wide and 340m long, cost about 30% more than an equivalent onshore terminal.

"As a small city state, we are constantly pushing boundaries in our quest to overcome our scarce land resource. The Jurong Rock Caverns required us to venture into unfamiliar grounds and surmount engineering challenges never encountered before," he said. "Its success attests to our resolve to persevere and diligently deliver innovative and sustainable infrastructure solutions for Singapore."

Apart from doubling the capacity in the cavern's second phase, JTC Corp is planning to build other subterranean projects in Singapore.

energyasia.com

Tags: SINGAPORE, OIL, JTC

Chronicle:

SINGAPORE: FIRST UNDERGROUND 1.47 MLN M3
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

SINGAPORE: FIRST UNDERGROUND 1.47 MLN M3
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

SINGAPORE: FIRST UNDERGROUND 1.47 MLN M3
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

SINGAPORE: FIRST UNDERGROUND 1.47 MLN M3
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

All Publications »