With strong demand for transportation fuels and petroleum products in the foreseeable future, Jurong Port Tank Terminals will leverage several strategic benefits to capitalise on Singapore’s premier oil & gas position
Against a fluctuating oil price market and evolving trade flows, Asia continues to be a leading demand driver in key energy markets, increasing by 280% over the last 45 years.
This growth in petroleum product demand reinforces product flows into South East Asia through the Straits and supports the need for storage and supply chain infrastructure in Singapore.
Supported by a strong refinery base of 1.5 million barrels per day of crude oil and anchored by S&P Platts oil pricing centre for Asia trades, Singapore remains the only major independent terminal and storage hub in South East Asia and as such is a key trading hub for oil products in the region.
In addition to favourable demand dynamics, the International Maritime Organisation’s sulphur fuel cap, whic...