Exxon boosts trading capabilities with Singapore LNG terminal capacity: sources

摘要

Oil major Exxon Mobil Corp. will get access to LNG storage and reload capacity at Singapore LNG Corp. Pte Ltd.'s, or SLNG’s, terminals after an ongoing lease with commodity trader Trafigura expires at the end of June, several market sources told S&P Global Platts in the week beginning June 14. The access to LNG storage in Singapore will allow Exxon to further optimize LNG cargoes in the Southeast Asia region to back up its natural gas trading portfolio, and provide it with LNG trans-shipment facilities to sell gas to niche markets in smaller parcels. Exxon could also be taking up the SLNG lease for future LNG bunkering operations and to supply gas to its refinery complex located on Jurong Island, Singapore, which has a nameplate capacity of 592,000 barrels a day, Singapore-based traders said. Exxon, SLNG and Trafigura did not comment due to confidentiality of commercial arrangements. In 2019, the oil major signed a two-year time charter agreement with Sinanju Tankers for Singapore’s first LNG-powered bunker tanker. Its local unit ExxonMobil Asia Pacific is a licensed bunker provider in the Port of Singapore and it has plans to tap the nascent LNG bunkering sector where ship-to-ship LNG bunker deliveries could start from as early as 2021. Platts started assessing LNG bunker prices since September 2 on a delivered basis in both Singapore and Rotterdam, two of the world’s largest bunkering hubs. LNG bunker Singapore was assessed at 4.775/ MMBtu, or $184.52/mt while LNG bunker Rotterdam was assessed at 12.25 Eur/MWh, or $155.657/mt on June 17.