16th Jan 2008
SINGAPORE: Energy Market Authority (EMA) of Singapore is expecting to appoint the buyer for Singapore's first liquefied natural gas (LNG) terminal in the second quarter of 2008. EMA has shortlisted five out of 22 companies during the first stage of the selection process.Singapore is interested in working with a partner who is able to obtain quality and reliable LNG at competitive prices on a global basis, according to Minister of State for Trade and Industry, S. Iswaran. "Of course, there are other considerations that are being mentioned by various parties, like the development of the industries and so on," Iswaran said during an interview with local reporters. "But our primary objective is to have steady supply of gas at competitive prices."
Construction on the S$1 million (US$700,500) LNG terminal is expected to begin before the end of 2008 or in early 2009. The terminal will be built by PowerGas, a subsidiary of Singapore Power, and is scheduled to be complete by 2012. When complete, the terminal will be equipped with an annual capacity of 3 million tonnes (3.3 millon tons) of gas.
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