EMA wants to further open up LNG market [News]
By Yvonne Chan, Channel NewsAsia, 4 Jun 2013.
It is barely a month since Singapore’s liquefied natural gas (LNG) terminal begins commercial operations and the Energy Market Authority (EMA) is already making plans to open up the LNG market further.
Currently monopolised by one LNG importer, EMA is seeking industry feedback on whether it should introduce competitive licenses to multiple LNG suppliers.
Analysts said this would boost Singapore’s price competitiveness in the energy market and also go some way in developing its position as a secondary market for LNG.
There is currently one sole supplier of LNG to Singapore – British-based BG Group. It was awarded an LNG importer’s licence in 2008 to import and sell up to three million tonnes per annum of LNG for up to 20 years.
Singapore started importing LNG with the commencement of commercial operations at the LNG terminal on Jurong Island in May 2013.
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Source: Channel NewsAsia