EMA, PetroChina to boost Singapore’s LNG expertise

They will also look into opportunities in developing SG as an Asian LNG hub.

The Energy Market Authority (EMA) has signed a memorandum of understanding with PetroChina International Company Limited (PetroChina) to develop Singapore’s expertise and knowledge on liquefied natural gas (LNG) supply and management.

In a statement, EMA said this is part of efforts to strengthen the city-state’s energy security whilst exploring alternative energy sources.

Part of the agreement is studying opportunities to strengthen each other’s LNG supply chains, promote knowledge exchange regarding market dynamics, LNG supply and demand fundamentals, as well as evaluate joint procurement opportunities.

The parties will also study cooperation opportunities to support growing Singapore as an Asian LNG Hub, gas-to-power, and other sustainable development solutions.

“Our partnership with PetroChina will enhance our knowledge and expertise in the management and procurement of LNG supply, and also bring benefits to both parties through joint LNG procurement to secure better contract terms and pricing,” said Soh Sai Bor, assistant chief executive at EMA.