Singapore to Import More LNG

Singapore is looking at importing more LNG to meet its growing demand.

Channel News Asia reported that given the current demand situation, the island nation may lift a moratorium on new piped natural gas imports. 

The Energy Market Authority (EMA) plans to lift an existing moratorium on piped gas imports by 2018, or when LNG -- piped in by BG Group -- reaches its contracted 3 million tonnes per annum.

The move could increase Singapore’s competitiveness in the global LNG arena as there may be more than one sole supplier of the fuel to Singapore, Channel News Asia said.

British-based BG Group currently has that exclusive franchise.

Speaking at the Gas Asia Summit on Wednesday, Second Minister for Trade and Industry S Iswaran said the Energy Market Authority (EMA) will soon call for proposals to supply Singapore's next tranche of LNG.

This will be done in two stages, starting as early as the first quarter of next year, Channel News Asia added.

Singapore's LNG Terminal received its first tranche of LNG on May 7 this year.

"As we go forward… we should really be able to open up the market to different sources of gas in order to ensure the most competitive sources are able to supply to Singapore, hence the desire to lift the moratorium,” the minister said.

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