Singapore’s Energy Market Authority names two new term LNG importers
ExxonMobil and Sembcorp have been identified as new term LNG importers by Singapore's Energy Market Authority (EMA).
The EMA issues term LNG importer licenses to ensure that their import and sale of regasified LNG to gas users in Singapore is competitive and secure.
Pavilion Energy Singapore and Shell Eastern Trading are the two word LNG importers in Singapore at the moment. In 2017, the two were granted their licenses.
In July of last year, the energy regulator released a call for proposals.
ExxonMobil LNG Asia Pacific and Sembcorp Fuels (Singapore) were chosen after the RFP process because their proposals were the most successful among those received by EMA, according to the regulator.
The increase in the number of term LNG importers aims to increase competition and give gas buyers in Singapore more options.
Natural gas is one of Singapore's four energy switches in its search for a more efficient, sustainable, and cleaner future. It is the cleanest type of fossil fuel, and as Singapore expands its renewable energy options, it is expected to become the dominant fuel in the near future.
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