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Singapore looking to LNG terminal scheme

The Singaporean government has revealed it is looking into setting up a LNG terminal in the city state and will be commissioning a feasibility study soon. It is estimated that such a will cost US$1 billion and take five years to complete.

Singapore looking to LNG terminal scheme

In a statement by the country’s Ministry of Trade and Industry, the body which first mooted the idea two years ago, “This will be a project to position ourselves to meet Singapore's long-term energy needs [and], because of developments in the LNG market globally, there may be opportunities to tap LNG to meet future growth in energy demand and create new economic activities from managing the LNG business.”

“The tender for the study will be out in the next one to two months and will, among others, identify at least two sites for a terminal and forecast Singapore’s gas demand up to 2030,” added the ministry.

While no one company has come forward publicly to show interest in the tender, Japanese firms are expected to be at the forefront with Nissho Iwai and Itochu thought to be the leading contenders.

A feasibility study will be done first to identify at least two sites for a terminal and forecast Singapore's gas demand up to 2030.

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