LNG’s role as transition energy in Singapore to blossom despite zeal for renewables
Apart from meeting its domestic energy needs, the city-state is poised to step up its LNG hub game in the region
IN SIX years, Singapore is set to have its second (very own) liquefied natural gas (LNG) terminal. This is a big deal on many fronts, chief of all in terms of energy security.
The city-state is hoping to future-proof itself from the likes of the energy crunch three years ago that rocked its liberalised power sector, when an unprecedented gas crunch drove electricity spot prices off the roof and pushed out many electricity retailers.
Almost all of Singapore’s electricity is powered by imported gas, half of which comes through pipelines from Indonesia and Malaysia. The other half comes in the form of LNG from Australia, Qatar and the US.
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