Singapore is looking ahead to secure more liquefied natural gas (LNG) fuel for its electricity needs. About 90 per cent of the country's electricity is currently generated from natural gas.
Minister in the Prime Minister's Office and Second Minister for Trade and Industry S Iswaran announced on Wednesday that the Energy Market Authority (EMA) will call for proposals next year for Singapore's next tranche of LNG imports.
The agency is also studying how much of the Jurong Island LNG terminal's capacity can be set aside for shorter-term contract, spot imports and other ancillary services without affecting its throughput services. This would help develop a domestic secondary gas market here, said Mr Iswaran.
Opening this week's Singapore International Energy Week's Gas Asia Summit, Mr Iswaran also said that the EMA plans to lift an existing moratorium on piped gas imports by 2018 or when the government-appointed BG Group supplies its contracted maximum of three million LNG tonnes per year.
The moratorium means no new gas supply can be piped into the country for now.