The Energy Market Authority (EMA) has issued a request for proposal as it seeks to appoint two more term Liquefied Natural Gas (LNG) importers for Singapore.
This is in addition to the four existing term LNG importers, which are ExxonMobil LNG Asia Pacific, Pavilion Energy Singapore Pte. Ltd, Sembcorp Fuels (Singapore) Pte. Ltd. and Shell Eastern Trading (Pte) Ltd.
This comes as the EMA intends to increase competition as well as provide more options for gas buyers.
“Natural gas, which is the cleanest-burning fossil fuel, is one of four Switches in Singapore’s transition towards a more reliable, affordable and cleaner energy future,” EMA noted.
It currently produces around 95% of Singapore’s electricity. It is also expected to remain a dominant fuel for Singapore’s electricity generation, while the country scales up other power sources, such as solar, regional power grids and low-carbon alternatives.
According to the EMA, interested parties could submit proposals until 8 July 2022. This will be evaluated based on their ability to provide reliable, secure and competitive supply of LNG to Singapore.