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EMA clarifies report on S'pore building LNG terminal to buy & store Qatar gas
Posted: 30 June 2010 2336 hrs
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SINGAPORE: Singapore's Energy Market Authority (EMA) has clarified a report quoting Minister Mentor Lee Kuan Yew as saying that Singapore will be building a liquefied natural gas (LNG) terminal to buy gas from Qatar and store it.
EMA said it has received several queries from the industry on this matter following the report by The Straits Times on 30 June.
It clarified the context in which these remarks were made.
EMA said the government is indeed developing an LNG terminal that will enhance Singapore's energy security through diversification of its gas supply sources.
EMA has set up a new subsidiary, the Singapore LNG Corporation or SLNG, to own the LNG terminal and oversee its development.
"With such a facility, Singapore will be plugged in to the global gas market, and will be able to bring in gas from countries all over the world, including Qatar," EMA said in a statement on Wednesday.
"Currently, however, Singapore has no contracts for LNG supply from Qatar," it added.
EMA said LNG will be imported by BG Singapore Gas Marketing Pte Limited (BG), a subsidiary of BG Group.
It was appointed by EMA, following a competitive tender process, to be the LNG Aggregator for Singapore.
Under this arrangement, BG has an exclusive licence to import up to 3 million tonnes per annum (Mtpa) of LNG or until 2023, whichever is earlier.
EMA said the supply of LNG from BG will come from a diversified portfolio of sources, including Egypt, Trinidad & Tobago and Australia.
"As Singapore's gas needs increase over time, we will naturally have to source for new supplies of LNG beyond the BG franchise. We remain open to importing LNG from other suppliers, including Qatar, for our future gas needs," EMA said.
- CNA/ir
Posted: 30 June 2010 2336 hrs
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SINGAPORE: Singapore's Energy Market Authority (EMA) has clarified a report quoting Minister Mentor Lee Kuan Yew as saying that Singapore will be building a liquefied natural gas (LNG) terminal to buy gas from Qatar and store it.
EMA said it has received several queries from the industry on this matter following the report by The Straits Times on 30 June.
It clarified the context in which these remarks were made.
EMA said the government is indeed developing an LNG terminal that will enhance Singapore's energy security through diversification of its gas supply sources.
EMA has set up a new subsidiary, the Singapore LNG Corporation or SLNG, to own the LNG terminal and oversee its development.
"With such a facility, Singapore will be plugged in to the global gas market, and will be able to bring in gas from countries all over the world, including Qatar," EMA said in a statement on Wednesday.
"Currently, however, Singapore has no contracts for LNG supply from Qatar," it added.
EMA said LNG will be imported by BG Singapore Gas Marketing Pte Limited (BG), a subsidiary of BG Group.
It was appointed by EMA, following a competitive tender process, to be the LNG Aggregator for Singapore.
Under this arrangement, BG has an exclusive licence to import up to 3 million tonnes per annum (Mtpa) of LNG or until 2023, whichever is earlier.
EMA said the supply of LNG from BG will come from a diversified portfolio of sources, including Egypt, Trinidad & Tobago and Australia.
"As Singapore's gas needs increase over time, we will naturally have to source for new supplies of LNG beyond the BG franchise. We remain open to importing LNG from other suppliers, including Qatar, for our future gas needs," EMA said.
- CNA/ir
