Vopak starts operations at new Singapore LPG import, storage terminal
Vopak has started up operations at a liquefied petroleum gas (LPG) import and storage terminal in Singapore, according to a report this week from news agency Reuters.
The terminal will be the first independent LPG storage site in southeast Asia.
The terminal has an initial capacity of close to 80,000 cubic meters, Vopak said.
"We are very well positioned to capture the flows of LPG coming from the US and the Middle East," said Tan Soo Koong, managing director of Vopak Terminals Singapore.
Asia has seen a rise in imports of LPG, a fuel for residential use for cooking and heating and a feedstock for petrochemical production, according to the Reuters report.
Vopak said the Banyan terminal at Singapore's Jurong Island received its first LPG cargo onboard the tanker Sun Aries as part of the start up.
ExxonMobil is set to receive the inaugural shipment of liquefied propane from the tanker. Exxon is one of the anchor tenants of Vopak's Singapore terminal.
"The LPG facility will help in providing us increased flexibility in securing advantaged feedstock," said Gan Seow Kee, chairman and managing director of ExxonMobil Asia Pacific.
Vopak owns 80% of the terminal, while South Korea's SK Gas holds the remaining share.
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