Tank Storage Asia conference now only 4 weeks away!
VTTI, Rotary Engineering, Mabanaft, Seaport World Malaysia, Gulf PetroChem, Zurich Insurance and Mott McDonald are just some of the names confirmed to speak at the upcoming Tank Storage Asia expo & conference in Kuala Lumpur, Malaysia on 7-8 December.
Last year’s successful event proved the level of interest in the bulk liquid storage sector in Asia is the ideal location to bring the major players together. Because terminals in Singapore remain full and space remains limited, expansions continue to centre around Johor.
At the event, delegates will be given an update on the key terminal projects in the region. These include the Far East Oil Terminal at Pasir Gudang with 230,000m3 of storage, operated by Feoso and Cosco.
Another is Langsat Terminal at Tanjung Langsat, operated by Dialog, MISC and Trafigura. The first phase of the 400,000m3 facility was completed in 2009 and phase two was certified as ready for operation in 2010. The owners will expand the capacity to 650,000 m3 by the end of this year and could eventually increase this to 1 million m3.
A particularly noteworthy project for Dialog at the moment, is the other terminal it is building with Vopak. This is a 1.3 million m3 facility being built in Pengerang, which is expected to be ready in 2014.
On top of this first phase, there are massive spin-off opportunities for this project, which will turn it into a regional oil storage and trading hub by 2017. Excitingly, the Johor government has just approved the site – 500 acres of reclaimed land – for a 60 year lease. The phased construction will create 5 million m3 of storage capacity, which is about 10 times that of the Tanjung Langsat terminal.
On Johor’s western coast, Vitol and MISC are building a 841,000m3 Tanjung Buin terminal, which should be complete in March 2012. These new projects may well spell the end of floating oil storage off Johor and as such have a significant impact on the market dynamics of the region – another topic which will be explored in depth during the two day conference.
There are unconfirmed reports that a directive has been issued for seven VLCCs to leave Pasir Gudang waters by the end of August. Together these have the capacity to store about 1.9 million tonnes of crude or fuel oil.
There are as many as 18 VLCCs off Johor at the moment. Players using the facility in the past have included Titan, Glencore and Vitol. As well as these evolving projects and issues the conference will also cover API regulatory updates, ways of securing project finance, and future product price speculation.
For those companies already involved in bulk liquid storage in Asia, or looking to move into the market, this event is a ‘must’ for the calendar.
Full details can be found at www.tankstorageevents.com/tsasia