The development of Singapore’s second Liquefied Natural Gas (LNG) terminal has advanced from planning to execution, marked by the signing of agreements between Singapore LNG Corporation Pte Ltd (SLNG), Mitsui O.S.K. Lines Ltd (MOL), Jurong Port Pte Ltd, and Wood plc. This significant milestone was celebrated at the Sands Expo and Convention Centre, attended by Minister for Manpower and Second Minister for Trade and Industry, Dr. Tan See Leng, as the Guest-of-Honour.

Leong Wei Hung, CEO of SLNG, highlighted the importance of the new terminal, stating that it emphasizes LNG's critical role in Singapore's energy mix and SLNG’s commitment to ensuring energy security. He noted that the additional capacity will enable Singapore to seize growth opportunities while advancing its energy transition goals. He expressed gratitude for the support of Jurong Port and the collaboration with industry leaders like MOL and Wood.

SLNG has signed an agreement with a MOL subsidiary to charter a new Floating Storage and Regasification Unit (FSRU) with a storage capacity of 200,000m³ and a regasification capacity of 5 Million Tonnes Per Annum (MTPA). South Korean shipbuilder Hanwha Ocean will construct the FSRU, expected to be operational by the decade's end. Together with the existing terminal on Jurong Island, this new FSRU will enhance SLNG’s LNG throughput capacity to 15 MTPA, providing increased flexibility to meet Singapore's future gas demand.

Takeshi Hashimoto, President and CEO of MOL, expressed enthusiasm about contributing to this vital energy security project, leveraging MOL's extensive experience in global FSRU projects. Under its agreement with Jurong Port, SLNG will establish the second LNG terminal at Jurong Port, where the FSRU will dock. Additionally, onshore infrastructure will be built to connect the FSRU to onshore pipelines and the Singapore gas network.

Terence Seow, CEO of Jurong Port, emphasized the port’s longstanding role in supporting Singapore’s growth and its commitment to enhancing the nation’s energy security. He noted that Jurong Port's infrastructure and proximity to the existing gas network would facilitate the operation of the new LNG terminal.

SLNG has awarded the Front-End Engineering Design (FEED) contract to a Wood subsidiary, which will outline the scope of the onshore connecting infrastructure. The FEED will deliver the engineering designs and details needed for the Engineering, Procurement, and Construction (EPC) contract for terminal construction. This FEED is expected to be finalized by mid-2025, followed by the Request for Proposal process for the EPC contract. The new LNG terminal is targeted for operational status by the end of the decade.