Forbes: Singapore's LNG Trading Hub Ambitions Press Forward

Last week at the LNG Supplies for Asian Markets 2016 conference in Singapore, S. Iswaran, Singapore’s Minister for Trade and Industry, said that the city-state aims to allow domestic gas customers to import up to 10% of their annual LNG intake from the international spot market for domestic use – a brilliant move that will help establish Singapore’s regional gas trading hub ambitions.

Iswaran said that under the spot LNG Import Policy, a gas buyer would be given annual credits to import up to 10% of its total long-term contracted quantities in the form of spot cargoes.  He added that Singapore’s Energy Market authority (EMA) is reviewing this policy with a view to providing gas buyers with greater flexibility. Another key initiative by EMA is the Secondary Gas Trading Market launched last October and aimed at allowing customers to trade gas on a short-term basis, a Platts report said. MORE