30 Oct '13, 5am

Singapore Plans Two New LNG-Import Licenses as Pipe Cap Lifted - Bloomberg

Singapore Plans Two New LNG-Import Licenses as Pipe Cap Lifted - Bloomberg

Singapore ’s drive to become an Asian hub for buying and selling liquefied natural gas will be constrained by stagnant volumes in the spot market , which traders say may not expand anytime soon. The city-state, which opened its first LNG terminal in May, plans to award import licenses to as many as two suppliers and almost triple the amount of gas it can receive over the next three years, the government said yesterday. While it has the infrastructure and supply options needed for a market to develop, a lack of liquidity may prevent that from happening for at least four years, according to Wood Mackenzie Ltd. Asia’s oil-trading center is vying to become a hub for LNG, supercooled gas shipped by tankers rather than pipelines. The region has overtaken Europe as the world’s biggest gas importer, accounting for 46 percent of global trade, according to the International Energy A...

Full article: http://www.bloomberg.com/news/2013-10-30/singapore-plans-...

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