(http://www.augustenergy.biz/, November 20, Friday --- Article from EnergyAsia ...
(http://www.energyasia.com/) --- Norwegian shipping group Stolt-Nielsen is delaying construction of a chemical storage tank terminal in Jurong Island in Singapore until it receives firm commitments from clients to use the facility.
The company had announced plans to build the terminal early last year, with completion due for for end-2009.
Ten oil and petrochemical companies have submitted letters of intent to use the facility, which could cost as much as S$200 million, but none have signed any contracts yet. The Norwegian firm expects several of the companies to make a decision by the end of this year. (US$1=S$1.39).
Potential customers include Shell and ExxonMobil, which are setting up petrochemical complexes in Singapore within the next two years.
Stolt-Nielsen had put the terminal project on hold last year because of the global financial crisis.
If completed, the terminal could store between 250,000-300,000 cubic metres of chemicals.
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