Singapore is set to begin storing Saudi Arabian oil in underground caverns starting in the second half of 2027. This initiative is part of a broader strategy by Saudi Arabia to manage potential disruptions caused by the ongoing US-Iran war. The oil will be stored in the Jurong Rock Caverns, located within a petrochemicals and refining complex in southern Singapore.
The announcement was made by Tan See Leng, Singapore’s minister for energy, trade and industry, during the Singapore International Energy Week conference on Monday. The move underscores Singapore’s role as a key hub for global energy storage and logistics.
The Jurong Rock Caverns are strategically important, providing secure and large-scale storage solutions. This development is expected to enhance the resilience of Saudi Arabia’s oil supply chain amid geopolitical tensions.