Singapore LNG’s 3rd tank amasses LNG cargo from Indonesia : Bloomberg

But it’s not intended for import into the country.

SLNG’s Jurong Island facility in western Singapore has three tanks that can handle 6 million metric tons a year, reveals a report by Bloomberg, and the facility is set to add its fourth tank by 2017, increasing the capacity to 9 million tons.

The owner of the shipment may be able to sell it for as much as $16 per million British thermal units for winter delivery compared with current spot LNG prices of below $11.

Here’s more from Bloomberg:

“We confirm that the Singapore LNG Terminal will be receiving a cargo of LNG that is not intended for import into Singapore,” SLNG’s spokesman Simon Ang said in an e-mailed statement yesterday. Ang declined to give further details of the cargo, citing reasons of commercial confidentiality.

“This cargo is interesting because of the timing vis-a-vis the market,” Tony Regan, an energy consultant at Tri-Zen International Inc. in Singapore said by phone. “The market in the second quarter this year is weak with low prices, and there’s an expectation prices will be much stronger when the gas is reloaded two to three months down the road.