Singapore aims for second LNG import terminal by end of decade

SINGAPORE: Singapore aims to bring online a second liquefied natural gas import terminal by the end of the decade to enhance the city state’s energy security.

The additional terminal, to be developed and operated by Singapore LNG Corp., will allow the country to entirely meet its gas demand with LNG if necessary, according to a statement from the company. Singapore currently also imports natural gas from neighbors via pipelines.

Singapore uses gas for 95% of its power generation, and is stepping up efforts to ensure supply after last year’s energy crisis. The shift toward LNG, and away from pipeline imports, will give the country more flexibility in choosing suppliers.

The heart of the terminal will be housed offshore on a Floating Storage and Regasification Unit - essentially an LNG carrier retrofitted to import gas - that has the capacity to handle 5 million tons a year, according to SLNG.

The company said it will hold a tender to charter the FSRU vessel.

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