24 Oct '16, 7am

Shell is among Singapore's new LNG suppliers as the country seeks to become a regional trading hub

Singapore, which is vying to become a regional center for the trading of liquefied natural gas in Asia, picked Royal Dutch Shell Plc and Pavilion Gas Pte Ltd. as its next suppliers of the fuel. The companies will have exclusive rights to sell 1 million metric tons of LNG annually for up to 3 years, with imports beginning in 2017, the city-state’s Energy Market Authority said in a statement. The country will also consider spot purchases of the supercooled fuel and piped natural gas on a case-by-case basis, S. Iswaran, the Minister of Industry, said at the Singapore International Energy Week conference on Monday. Singapore wants to use its geography and stature as Asia’s oil-trading center to also be a leader in LNG in a region that accounted for more than 70 percent of global demand in 2015. The nation has built a receiving terminal while the state-owned investment company ...

Full article: http://www.bloomberg.com/news/articles/2016-10-24/shell-a...

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