News & Media

GDN online
14th September, 2017

The role of Asia in the global oil market, the oversupply of crude worldwide and its impact on key Asian storage hubs will be highlighted through discussions at the Tank Storage Asia, to be held later this month in Singapore.

The event will take place on September 27 and 28, at the Marina Bay Sands.

This year's event is particularly timely in light of the latest events coming out of the US, demonstrating the potential vulnerabilities of the crude oil and refined products market and the impact that natural setbacks can have on the global supply chain, said a statement.

For Asian producers and refineries this is likely to mean increased crude and petroleum supply to markets normally resourced from US stocks, it said.

The conference programme will include a keynote presentation by Olivier Lejeune, Oil Storage Market Analyst at the International Energy Agency, (IEA), who will explore global demand and supply and storage trends both highly relevant topics at this time, it added.

Hormuzd Karanjia, director of IHS Chemical Industry Consulting, will continue the global discussion, looking at worldwide petrochemical developments and the impact on storage.

Attendees will also get specific regional perspectives from Anderson Ang, deputy general manager of chemical distributor and terminal operator PT, Taruna Bina Sarana (Linc Group) who will examine the outlook for Indonesia's storage market, Ai Lin Leaw, executive director at Benalec Holdings who will be providing an update on storage developments in Malaysia and Mukesh Parikh, senior consultant at SmartHead Consulting who will discuss the threats, risks and opportunities for tank storage terminals in India.

Bulk liquid storage, an industry with an inherent degree of risk and safety, remains a key focus area in many emerging markets.

Darmawan A Mukharror, process safety expert from the Indonesian Institute for Process Safety will look at the requirements for safety integrity, with specific reference to the results of a real-world analysis looking at multiple layer protection over fourteen storage tanks.

Other topics will include spotting new storage development opportunities across South East Asia, legal issues around terminal transactions and structuring and financing of projects, among others.

Nick Powell, divisional director, Tank Storage Asia, said: We have a compelling line up of speakers this year and it will be particularly interesting to see what the experts have to say about the current and future position of the storage market both globally and across Asia.

We have already had an overwhelming response to this year's programme, with delegates quick to book their seats in the conference theatre. We urge anyone looking to attend the conference to book soon in order to avoid missing out, he added. TradeArabia News Service