VOPAK : Local News: New Vopak LPG facility in Singapore receives its first cargo

15 February 2016- Singapore

World's leading independent tank storage company Vopak has received its first cargo at the new liquefied petroleum gas (LPG) facility at its Banyan terminal on Jurong Island, marking the start-up of Southeast Asia's first independent LPG import and storage facility. The shipment from the vessel 'Sun Aries' will deliver fully refrigerated propane to ExxonMobil Asia Pacific Pte Ltd, one of the anchor tenants of Vopak's terminal in Singapore.

Commenting on this milestone, Mr Tan Soo Koong, Managing Director of Vopak Terminals Singapore said, 'We are very happy with this successful start-up of our new LPG facility within our Banyan terminal. We are very well positioned to capture the flows of LPG coming from US and Middle East and our independent LPG facility is geared towards becoming a strategic gas centre in the future.'

Mr Gan Seow Kee, Chairman and Managing Director of ExxonMobil Asia Pacific Pte Ltd, said, 'We are pleased to play a part in the commissioning and start-up of the LPG facility, which adds to the long-term competitiveness for our industry in Singapore and the synergistic strength of Jurong Island. The LPG facility will help in providing us increased flexibility in securing advantaged feedstock for our integrated refining and petrochemical complex.'

'Improving feedstock competitiveness is a focus area under the Jurong Island version 2.0 initiative, which aims to grow the sector in a competitive and sustainable manner. With this new LPG facility, crackers can now tap on alternative feedstock. This will strengthen our integrated chemicals value chain and further enhance Jurong Island's attractiveness as a manufacturing location for high-value added chemicals,' said Damian Chan, Executive Director, Energy and Chemicals, Singapore Economic Development Board. The LPG facility has an initial capacity of close to 80,000 cubic meters and is an 80/20 partnership between Vopak Terminals Singapore Pte Ltd and SK Gas International Pte Ltd.

The facility further strengthens Vopak's global LPG network and reinforces Vopak's strategic focus on gas and the company's ambition to maintain its leading position in the Asia market. Vopak has a long-standing presence in Singapore since 1983 in which it developed the nation's first independent oil terminal on Seborak island. Today, Vopak, together with its partners, operates five terminals in Singapore with a total capacity of over 3 million cubic meters. In 2016 Royal Vopak celebrates its 400th anniversary.