Singapore, Saudi Arabia to set up crude oil storage arrangement on Jurong Island新加坡和沙特阿拉伯将在裕廊岛建立原油储存协议
Singapore and Saudi Arabia on Monday (Oct 26) announced their joint intent to establish a crude oil storage arrangement in the city state.In a statement the Ministry of Energy, Trade and Industry (METI), said a memorandum of understanding (MOU) was signed between the Saudi Arabia Oil Company (Aramco) and Singapore's Energy Market Authority and JTC Corporation at the Singapore International...
Singapore and Saudi Arabia on Monday (Oct 26) announced their joint intent to establish a crude oil storage arrangement in the city state.
In a statement the Ministry of Energy, Trade and Industry (METI), said a memorandum of understanding (MOU) was signed between the Saudi Arabia Oil Company (Aramco) and Singapore's Energy Market Authority and JTC Corporation at the Singapore International Energy Week.
Under the proposed arrangement, Saudi crude oil would be stored at the Jurong Rock Caverns on Singapore’s Jurong Island.
This is expected to begin in the second half of 2027.
"(The MOU is) a first step towards realising this arrangement," METI stated.
While the stored crude oil will strengthen Singapore’s energy security and resilience in the event of a supply disruption, the arrangement will also enhance the resilience of the Saudi crude oil supply chain in Southeast Asia.
"The proposed arrangement marks a new milestone in energy cooperation between Singapore and the Kingdom of Saudi Arabia.
"It also reflects the two countries’ shared commitment to strengthening regional energy security and recognises Singapore’s roles as a key regional energy hub," METI said.
The energy ministries of both countries will continue to work together to advance the arrangement and implement is implementation.
Apart from the Saudi agreement, Singapore’s GasCo also inked an agreement with PT Thailand to explore cooperation in liquefied natural gas supply optimisation.
“We are continuously on the lookout for collaborations to strengthen supply chain resilience,” said Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng at the Singapore Energy Lecture.
Such preparations, the minister noted, have allowed Singapore to mitigate the worst of the ongoing energy crisis.
新加坡和沙特阿拉伯于周一（10月26日）宣布，双方有意在新加坡建立原油储存安排。
新加坡能源、贸易和工业部 (METI) 在一份声明中表示，沙特阿拉伯石油公司 (Aramco) 与新加坡能源市场管理局和裕廊集团 (JTC Corporation) 在新加坡国际能源周期间签署了一份谅解备忘录 (MOU)。
根据拟议的安排，沙特原油将储存在新加坡裕廊岛的裕廊岩洞。
预计将于 2027 年下半年开始。
经济产业省表示：“（该谅解备忘录）是实现这一安排的第一步。”
虽然储存的原油将增强新加坡在供应中断时的能源安全和韧性，但该安排也将增强沙特原油供应链在东南亚的韧性。
“这项提议标志着新加坡和沙特阿拉伯王国在能源合作方面迈出了新的一步。”
“这也体现了两国加强区域能源安全的共同承诺，并认可了新加坡作为重要区域能源枢纽的作用，”新加坡经济产业省表示。
两国能源部将继续共同努力推进该安排并落实实施。
除了与沙特阿拉伯的协议外，新加坡天然气公司 (GasCo) 还与泰国石油公司 (PT Thailand) 签署了一项协议，探讨在液化天然气供应优化方面的合作。
“我们一直在寻求合作，以加强供应链的韧性，”能源、贸易和工业部长（能源和工业）陈思龙博士在新加坡能源讲座上表示。
部长指出，这些准备工作使新加坡得以减轻当前能源危机带来的最严重影响。