As the worldwide liquefied natural gas (LNG) market continues to expand and the technology becomes more popular among major oil and gas industry players, companies are attempting to take advantage of this budding sector by having a hand in the creation of new projects.
One of the main focuses at the moment is assessing the feasibility of small-mid scale LNG projects and one company making waves in the sector is Singapore LNG Corporation (SLNG).
The organisation recently awarded a contract to Samsung C&T Corporation for the engineering, procurement and construction of an LNG storage tank at its terminal.
It will be the third such facility to be built at the site and will be 188,000 cubic metres in volume, helping to increase the terminal's overall storage capacity to six million tonnes of throughout per annum.
The total LNG storage capacity at the terminal will subsequently increase to 540,000 cubic metres, which SLNG says will give it greater flexibility to meet future gas needs.
Neil McGregor, chief executive of SLNG, said the third tank will help the firm to capitalise on any new business opportunities and therefore allow LNG traders to store and re-export LNG cargoes.
"We had contemplated the need for a third tank at the time of the award of the initial EPC contract for the LNG terminal," he commented…