Singapore has added two additional LNG term importers to boost competition and provide more options for gas buyers.
The Energy Market Authority has appointed ExxonMobil LNG Asia Pacific, a unit of the US energy giant, but also Singapore’s Sembcorp Fuels as new term importers, it said in a statement.
EMA licenses term importers to “ensure that their import and supply of regasified LNG to gas users in Singapore on a term basis are competitive and reliable,” it said.
To remind, the energy regulator issued a request for a proposal in July last year.
The move adds to the current term importers Pavilion Energy Singapore and Shell Eastern Trading.
Moreover, natural gas is one of the four switches in Singapore’s drive towards a more “reliable, affordable and cleaner energy future,” EMA said.
EMA expects natural gas to be the dominant fuel for Singapore in the near future as the country also scales up its renewable energy options.
