Singapore petroleum storage facility gets PetroChina as anchor tenant

"The majority of the existing tanks are used for gasoline storage with the balance used for chemical components for the blending of gasoline," the JPPT official said. Filepic shows liquified natural gas (LNG) storage tanks at PetroChina's receiving terminal in Dalian, Liaoning province. - Reuters)

SINGAPORE: Singapore Jurong Port Tank Terminal's (JPTT) petroleum and petrochemical storage facility in Jurong Island has been fully leased, with China's PetroChina <601857.SS> taking up all of its phase 1 capacity, JPPT's chief executive Ooi Boon Hoe said in a statement on Monday.

JPTT's phase 1, which comprises 252,000 cubic metres of clean storage and petrochemicals capacity, started partial operations on April 1 this year.

PetroChina officials weren't immediately available for comment.

"The majority of the existing tanks are used for gasoline storage with the balance used for chemical components for the blending of gasoline," the JPPT official said.

"When fully operational, the terminal will boast approximately 550,000 cubic metres of storage capacity." - Reuters