Saudi Arabia to Store Crude in Singapore's Jurong Caverns Starting 2027

At the Singapore International Energy Week, Saudi Arabia and Singapore confirmed a joint initiative to store Saudi crude oil in the Jurong Rock Caverns beginning in the latter half of 2027. The underground facility, situated 150 metres below ground on Jurong Island, can accommodate up to 1.47 million cubic metres of oil and condensate. Saudi Energy Minister Prince Abdulaziz bin Salman Al-Saud said the arrangement will place supplies nearer to key Asian markets, enhancing flexibility and preparedness.

Singapore’s Energy, Trade and Industry Minister Tan See Leng described the plan as strengthening both Saudi Arabia’s supply-chain resilience in Southeast Asia and Singapore’s energy security. An MoU between Saudi Aramco, the Singapore Energy Market Authority and JTC Corp will be signed, with final negotiations expected within a few months. The initiative follows similar storage agreements Saudi Aramco has with Japan and South Korea, where local authorities receive priority access during shortages.