Singapore’s Energy Market Authority (EMA) and South Korean state-backed Korea Gas Corp. (KOGAS) have signed a deal to explore potential joint purchases of liquefied natural gas (LNG).
Under the memorandum of understanding (MOU), the Southeast Asian city-state hopes to learn from major LNG importer South Korea about the procurement and management of LNG supply. Singapore plans to meet all its gas needs by LNG.
Singapore plans to build a second LNG terminal after the onshore facility on Jurong Island, which started operation 2013 and has an annual average capacity of approximately nine million metric tons per annum (MMtpa).
SLNG said it was considering a floating storage and regasification unit for its second terminal. The new project, targeted to have a capacity of five MMtpa, is planned to be put online by 2030.
