Singapore to Store Saudi Oil in Underground Caverns From 2027
Singapore is preparing to host significant reserves of Saudi Arabian crude oil within its sophisticated underground storage network starting in the latter half of 2027. This initiative represents a strategic move by the kingdom to safeguard its energy exports against potential volatility and logistical challenges. Tan See Leng, the Minister for Energy, Trade, and Industry for Singapore, revealed the details of this arrangement during his address at the Singapore International Energy Week conference this past Monday.
Jurong Rock Caverns Storage Site
The agreement specifies that Singapore will hold the oil in the Jurong Rock Caverns. This facility sits within a major refining and petrochemicals hub in the southern portion of the city-state. By utilizing these deep-seated rock formations, the kingdom can store massive quantities of liquid hydrocarbons without consuming the
Source: bloomberg.com · 2026-10-26