Greater Singapore could be world's largest oil storage hub

Greater Singapore – Singapore together with new terminals in Malaysia and Indonesia – could increase capacity by a third

Independent oil storage capacity in the Singapore area is seeing unprecedented growth, which could lead to Greater Singapore becoming the world’s largest storage hub. Over 2014 and 2015 new terminals in Malaysia and Indonesia – directly facing the shipping lanes into Singapore – and an expansion in Singapore will have added capacity equivalent to 32% of Singapore’s early-2014 petroleum storage capacity. Plans under study could add an even larger increment a few years later. Some say that construction of so much new capacity in neighbouring countries will attract business away from the Singapore terminals and weaken the hub. But others argue that a growing Greater Singapore will have the capa