Singapore — Singapore is set to shift toward LNG to meet the bulk of its gas demand in the coming years as piped natural gas supply contracts are discontinued and LNG import capacity is expanded, with a new floating regasification plant planned in the next decade.
The commodity trading hub’s increasing reliance on LNG underscores the commoditization of seaborne gas and its development as a source of energy security for importers. The new offshore terminal will also add Singapore to a growing list of Asian countries deploying floating infrastructure.
Singapore in 2018 imported 9.96 million mt of oil equivalent of natural gas, out of which 71.4% was pipeline gas from Indonesia and Malaysia, and 28.6% was LNG, according to data from Energy Market Authority, the country’s energy regulator.
