Saudi Arabia Agrees to Store Oil in Singapore
Saudi Ministry of Energy announces agreement with Singapore to study storing crude oil in Jurong rock caverns to enhance energy security
Translated by Qiyas from الراي — Original source
- Storage in Jurong rock caverns to be activated in the second half of 2027
- The project brings together Aramco, JTC, and Singapore’s Energy Market Authority
- Abdulaziz bin Salman: Achieving global energy security requires more resilient systems, continuous investments, and reliable partnerships
This came during his participation in the Singapore International Energy Week 2026, where Bin Salman emphasized the strategic importance of strengthening bilateral cooperation with Singapore and expanding the Kingdom’s partnerships with various parties across Asia, thereby supporting the pillars of energy security and serving shared growth and prosperity.
In this context, the participation featured a notable practical step to realize this vision; the Saudi Ministry of Energy announced a strategic agreement with Singapore’s Ministry of Trade and Industry to study the storage of Saudi crude oil in Singapore’s Jurong rock caverns, with activation targeted for the second half of 2027.
This joint project, involving Saudi Aramco, Singapore’s Energy Market Authority, and JTC, aims to bring Saudi oil sales closer to key demand centers in Southeast Asia, thereby enhancing readiness and flexibility to address any urgent requirements in global markets.
Furthermore, the stored crude oil, under these arrangements, will help meet Singapore’s energy needs in the event of supply disruptions, thereby strengthening the security and reliability of its energy supplies.
The proposed arrangements represent a new phase of energy cooperation between Saudi Arabia and Singapore, reflecting both countries’ shared commitment to enhancing energy security in Southeast Asia and underscoring Singapore’s role as a major regional energy hub.
