Singapore-Saudi crude storage targeted for second half of 2027
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Singapore and Saudi Arabia are targeting the second half of 2027 for the start of Saudi crude storage at Singapore’s Jurong Rock Caverns. The governments announced the joint intent on Oct. 26, 2026; the initial memorandum of understanding is nonbinding, not a completed storage contract.
Singapore’s Energy Market Authority and JTC Corporation exchanged the MoU with Saudi Aramco during Singapore International Energy Week. The proposed site is on Jurong Island. The arrangement is not yet operating, and no immediate change to Singapore’s crude supply was announced.
The second half of 2027 means July through December, but the announced target does not identify a specific start date. Separately, ICIS reported that Singapore’s energy minister expected commercial negotiations to be finalized in a few months. That expectation concerns negotiations, not the planned start of operations.
The two governments say the proposed storage is intended to help meet Singapore’s energy needs during supply disruptions and strengthen resilience in Saudi crude supply chains in Southeast Asia. They have not disclosed the volume of crude or the commercial terms.
Sources
- Singapore and the Kingdom of Saudi Arabia announce joint intent to establish a crude oil storage arrangement in Singapore, JTC Corporation; press release issued by Singapore’s Ministry of Energy, Trade and Industry
- Singapore, Saudi Arabia sign initial deal to store crude at Jurong Rock Caverns, ICIS
- Saudi crude to be stored at Singapore’s Jurong Rock caverns from H2 2027: Singapore minister, S&P Global Commodity Insights
- www.jtc.gov.sg
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