LNG terminal to enhance energy security: PM [News]
By TODAY, 26 Feb 2014
The energy sector in the Republic reached another milestone yesterday as Prime Minister Lee Hsien Loong officially opened the first liquefied natural gas (LNG) terminal here, a key facility that will enhance energy security and boost the country’s status as an oil and gas hub in the region.
The S$1.7-billion terminal will help in the diversification of Singapore’s energy sources and ensure that there will be enough supply to meet rising demand at competitive prices. Currently, about 90 per cent of electricity here is generated from natural gas, with the bulk of the supply coming from Malaysia and Indonesia through pipelines.
“As a small country without any natural or energy sources, Singapore imports almost all our fuel. So, we are vulnerable to supply risks and fluctuations in prices,” Mr Lee said at the official opening of the terminal.
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