Royal Vopak will increase its oil storage capacity in Singapore by a total of 342,000 cubic metres (m³) at its Banyan Terminal and Penjuru Terminal by 2008.
At its Banyan Terminal, the company will add 320,000 m³ of storage space, bringing the terminal's total capacity to 850,000 m³.
The expansion is in response to higher market demand for gasoline storage in the Asian trading region, the company said in a press release.
There will be an additional 23 tanks ranging in size from 5,000 m³ to 25,000 m³.
Its Penjuru Terminal will have an additional 22,000 m³ from an extra 12 tanks for chemical products, raising its total capacity to 171,000 m³.
Together with the expansion of the Sebarok Terminal, Vopak's total storage capacity in Singapore will grow to 2.6 million m³ in 2008.
The company currently operates four storage terminals, including Sakra Terminal, for oil products and chemicals in the island-state. The four terminals currently provide a total storage capacity of 1.9 million m³.
Meanwhile, Horizon Singapore Terminals Pte Ltd has recently launched phase three construction of its Horizon Terminal's expansion plans to add 266,000 m³ of storage capacity.
The added capacity will bring Horizon Terminal's total storage space to slightly over 1.2 million m³. The phase three storage capacity is expected to be operational during the second half of 2008.
Global marine fuel supplier Chemoil Energy is also building its 448,000 m³ Helios Terminal on Jurong Island, expected to be ready in early 2008.
The largest of these are the Universal Terminal jointly built by Singapore's oil trader Hin Leong Trading and Chinese oil firm PetroChina, which will add 2.28 million m³ when it is ready by end-2007.
Singapore's JTC Corp has also started work on the country's first underground oil storage rock caverns, where the first two of five caverns should be operational by December 2010.
Phase 1 will create 1.47 million m³ of storage space while phase 2 could add another 1.32 million m³ of storage space on demand.
At its Banyan Terminal, the company will add 320,000 m³ of storage space, bringing the terminal's total capacity to 850,000 m³.
The expansion is in response to higher market demand for gasoline storage in the Asian trading region, the company said in a press release.
There will be an additional 23 tanks ranging in size from 5,000 m³ to 25,000 m³.
Its Penjuru Terminal will have an additional 22,000 m³ from an extra 12 tanks for chemical products, raising its total capacity to 171,000 m³.
Together with the expansion of the Sebarok Terminal, Vopak's total storage capacity in Singapore will grow to 2.6 million m³ in 2008.
The company currently operates four storage terminals, including Sakra Terminal, for oil products and chemicals in the island-state. The four terminals currently provide a total storage capacity of 1.9 million m³.
Meanwhile, Horizon Singapore Terminals Pte Ltd has recently launched phase three construction of its Horizon Terminal's expansion plans to add 266,000 m³ of storage capacity.
The added capacity will bring Horizon Terminal's total storage space to slightly over 1.2 million m³. The phase three storage capacity is expected to be operational during the second half of 2008.
Global marine fuel supplier Chemoil Energy is also building its 448,000 m³ Helios Terminal on Jurong Island, expected to be ready in early 2008.
The largest of these are the Universal Terminal jointly built by Singapore's oil trader Hin Leong Trading and Chinese oil firm PetroChina, which will add 2.28 million m³ when it is ready by end-2007.
Singapore's JTC Corp has also started work on the country's first underground oil storage rock caverns, where the first two of five caverns should be operational by December 2010.
Phase 1 will create 1.47 million m³ of storage space while phase 2 could add another 1.32 million m³ of storage space on demand.