Singapore's Sembcorp to import gas from Indonesia

Singapore-listed utility Sembcorp Industries on June 5 announced that its subsidiary, Sembcorp Gas, has signed a S$1.9bn ($1.41bn) deal with Medco E&P Natuna, a subsidiary of Indonesia’s Medco Energi Internasional, to buy natural gas.

The gas sales agreement entails importing natural gas from the West Natuna gas fields in Indonesia. The agreement is expected to become effective in the second half of 2023, subject to the necessary transport agreements. Gas delivery is scheduled to commence in 2024 and continue for a period of four years.

Sembcorp said the deal enhances its existing natural gas supply from piped and liquefied sources, solidifying its position as Singapore's leading natural gas importer