Singapore's Jurong Island is hoping to attract more petrochemical investment for the second phase growth.
Tankers at anchor in Singapore Image: Wirralwater |
The city-state is focussing on higher value-added derivatives and specialty chemicals. As the world's third-largest refining centre, Singapore is one of the leading global petrochemical hubs, although it faces growing competition from Malaysia and Indonesia.
Jurong Island, the location of Singapore's petrochemical industry, is the Asian home to several major global energy majors as well as very large crude carrier (VLCC) anchors and transmission networks for LNG, liquefied petroleum gas (LPG) and petrochemicals.
Singapore has a refining capacity of 1.3m bbl/day, with an ethylene capacity that will soon reach 4m tonnes/year. The state's Energy Development Board (EDB) has also stated its interest in developing a range of R&D capabilities on the island.