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Singapore drafting regulatory framework for 2nd LNG terminal, minister says

Jessica Jaganathan
Updated ·1-min read
Singapore drafting regulatory framework for 2nd LNG terminal, minister says

By Jessica Jaganathan

SINGAPORE, Oct 27 (Reuters) - Singapore is drafting new rules to facilitate setting up a second liquefied natural gas (LNG) terminal for the city-state, a government official said on Tuesday, a significant move forward for a project that could boost regional LNG flows.

Tan See Leng, second minister for trade and industry, said Singapore's Energy Market Authority (EMA) is developing a regulatory framework to "facilitate the entry of such infrastructure" after issuing a non-binding expression of interest (EOI) invitation last November for private companies to build, own and operate an offshore LNG terminal.

The EOI, aimed at boosting Singapore's position as an LNG hub in Asia, was "well-received", Tan said, speaking at a video conference on LNG and hydrogen gas markets during Singapore International Energy Week.

The second terminal is part of Singapore's plan to develop LNG-related services and infrastructure, he said, adding that there are currently more than 50 LNG trading or business development companies in Singapore. (Reporting by Jessica Jaganathan; Editing by Kenneth Maxwell)