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Commodity trading company Trafigura Pte Ltd and Singapore LNG Corporation Pte Ltd (SLNG), operator of the country's first liquefied natural gas (LNG) terminal, have signed a storage agreement to utilize excess capacity within the Singapore LNG terminal on Jurong Island.

In a statement, John Ng, Chief Executive Officer at SLNG, said: "SLNG is very pleased to offer our Storage & Reload services to multinational commodity trading house, Trafigura. This agreement will not only allow our company to better optimise the use of the spare capacity at our terminal, it is also a step forward in facilitating LNG trading out of Singapore."

Hadi Hallouche, Head of LNG at Trafigura, remarked: "We are proud to have been selected by SLNG for this term storage agreement which further enhances Trafigura's ties with the state of Singapore and will help us demonstrate our commitment to security of supply for our Asian customers."

Image: Singapore LNG Terminal, operated by Singapore LNG Corporation Pte Ltd.