Singapore has approached the market seeking suppliers of liquefied natural gas in order to enhance competition and provide more options for gas buyers in the Southeast Asian nation.
The country’s Energy Market Authority (EMA) has issued a request for proposal to appoint up to two new LNG term importers for Singapore, which sees increased gas in its energy mix as key to a more reliable, affordable and cleaner energy future.
“It [gas] is expected to be the dominant fuel for Singapore in the near future as we scale up our renewable energy options,” EMA said.
EMA has invited traders and energy companies to submit proposals that will be evaluated based on their ability to provide a reliable, secure and competitive supply of LNG to Singapore.
The deadline for submission is 9 November. EMA will decide on the suppliers by the end of March next year.
EMA said that interested participants must be Singapore-incorporated companies that will hold the licence if selected by EMA to be an importer.
Where the Participant is a consortium, the consortium can meet this requirement through the incorporation of a special purpose vehicle, with its shareholders being members of the consortium.
In 2017, EMA issued licences to Pavilion Energy Singapore and Shell Eastern Trading, appointing them as term LNG suppliers.
Under the licences, Pavilion and Shell have exclusivity to market LNG for three years or up to 1 million tonnes per annum, whichever is earlier.