Natural gas is emerging as the most promising fuel for today’s global fuel needs. Countries from all the world are adopting this fuel for it being greenest, cheapest and abundance in availability.
Singapore, the fourth biggest financial centre has also joined the league by opening a new LNG terminal on Jurong island. This venture is expected to step up the domestic gas market and establish Singapore as LNG trading and pricing cynosure.
Singapore is now expanding in branches its LNG sector by allowing more firms to import gas for the domestic needs.
In this gas revolution, Government is playing an active role. It is planning to license two more LNG importers to trade in Singapore. Also, ship brokers, law firms and price reporting agencies from all over the LNG market are showing keen interest in the emerging market. This is evident from more than 20 companies already finished establishing and expansion of the LNG infrastructure in Singapore.
Government is planning to increase the capacity of the Jurong Island terminal to meet the future gas demands. Singapore is successfully steering towards an energy secure future.