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CNG Cylinder

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LNG Storage Capacity

LNG Storage Capacity

THE growing importance of adopting cleaner ways to generate electricity worldwide has brought liquefied natural gas (LNG) into the spotlight as one of the most affordable and less environmentally damaging fuels. Singapore, with its strategic location, has bold plans to grow into the preferred trading hub for LNG in Asia. Singapore is already Asia's leading oil pricing and oil trading hub and therefore already has considerable infrastructure in place: It gathers major buyers, sellers and decision makers in the same place; it has a pool of highly skilled human capital in a multilingual environment, wide availability of financial and trading instruments, internationally recognised legal, regulatory and tax frameworks, and attractive fiscal policies and incentives. Singapore made its first LNG imports in March 2013 and currently has three storage tanks with total throughput capacity of six million tonnes per annum (Mtpa). Further expansion began at the end of 2014, with regasification facilities to be completed by 2017 and a fourth storage tank by 2018, increasing the annual capacity to 11 Mtpa. In December 2014, Singapore's Energy Market Authority (EMA) received nine bids from 10 companies to supply LNG to Singapore. From these, four LNG aggregators were shortlisted: BG Singapore Gas Marketing, Pavilion Gas Pte, Sembcorp Industries, and Shell Eastern Petroleum. The EMA will appoint up to two companies to import LNG into Singapore by end-February 2016. Diversification is important as 95 per cent of Singapore's electricity is generated through natural gas. At end-January 2016, Singapore Exchange (SGX) launched a mix of financial instruments to allow more flexibility on LNG contracts. These contracts will be the first based on a price index created in Singapore and expected to become the new benchmark for LNG pricing in Asia. The index is named after Singapore's most famous drink - SLInG (for SGX LNG Index Group). The SLInG will be used to develop products such as financial swaps for hedging purposes, and eventually in developing a physical delivery mechanism in Asia. Trading house Trafigura and Pavilion Gas, a subsidiary of Pavilion Energy, the LNG unit of Singapore's state-owned investment company Temasek Holdings, made the first trade of 10,000 million British thermal units (mmBtu) of LNG using the SLinG. The plan to become an LNG hub in the region gains momentum with the growing trend in South-east Asia to adopt small-scale LNG solutions. The region has numerous small and remote islands, and as such small LNG-processing plants would be the only way to provide gas to locations not connected to the gas pipelines network. Singapore will use its growing storage capacity to receive large LNG shipments and distribute them to smaller LNG tankers that will then supply the regional market. The past years saw a growing demand for LNG contracts on volumes smaller than one million tonnes a year. Pavilion Energy and companies such as Shell, Tokyo Gas and Indonesian Pertamina are investing heavily in small-scale LNG solutions. Currently, Singapore imports and trades LNG from Australia. In the near future, the city-state will take advantage of the proximity to East Africa and become a large importer of LNG from Mozambique and Tanzania. These two countries started investing in natural gas exploration, and are now just a few years away from having all the infrastructure and production ready to start pumping natural gas to the LNG tankers in port terminals in the region.

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THE growing importance of adopting cleaner ways to generate electricity worldwide has brought liquefied natural gas (LNG) into the spotlight as one of the most affordable and less environmentally damaging fuels. Singapore, with its strategic location, has bold plans to grow into the preferred trading hub for LNG in Asia.

Singapore is already Asia's leading oil pricing and oil trading hub and therefore already has considerable infrastructure in place: It gathers major buyers, sellers and decision makers in the same place; it has a pool of highly skilled human capital in a multilingual environment, wide availability of financial and trading instruments, internationally recognised legal, regulatory and tax frameworks, and attractive fiscal policies and incentives.

Singapore made its first LNG imports in March 2013 and currently has three storage tanks with total throughput capacity of six million tonnes per annum (Mtpa). Further expansion began at the end of 2014, with regasification facilities to be completed by 2017 and a fourth storage tank by 2018, increasing the annual capacity to 11 Mtpa.

In December 2014, Singapore's Energy Market Authority (EMA) received nine bids from 10 companies to supply LNG to Singapore. From these, four LNG aggregators were shortlisted: BG Singapore Gas Marketing, Pavilion Gas Pte, Sembcorp Industries, and Shell Eastern Petroleum. The EMA will appoint up to two companies to import LNG into Singapore by end-February 2016. Diversification is important as 95 per cent of Singapore's electricity is generated through natural gas.

At end-January 2016, Singapore Exchange (SGX) launched a mix of financial instruments to allow more flexibility on LNG contracts. These contracts will be the first based on a price index created in Singapore and expected to become the new benchmark for LNG pricing in Asia. The index is named after Singapore's most famous drink - SLInG (for SGX LNG Index Group).

The SLInG will be used to develop products such as financial swaps for hedging purposes, and eventually in developing a physical delivery mechanism in Asia. Trading house Trafigura and Pavilion Gas, a subsidiary of Pavilion Energy, the LNG unit of Singapore's state-owned investment company Temasek Holdings, made the first trade of 10,000 million British thermal units (mmBtu) of LNG using the SLinG.

The plan to become an LNG hub in the region gains momentum with the growing trend in South-east Asia to adopt small-scale LNG solutions. The region has numerous small and remote islands, and as such small LNG-processing plants would be the only way to provide gas to locations not connected to the gas pipelines network.

Singapore will use its growing storage capacity to receive large LNG shipments and distribute them to smaller LNG tankers that will then supply the regional market. The past years saw a growing demand for LNG contracts on volumes smaller than one million tonnes a year. Pavilion Energy and companies such as Shell, Tokyo Gas and Indonesian Pertamina are investing heavily in small-scale LNG solutions.

Currently, Singapore imports and trades LNG from Australia. In the near future, the city-state will take advantage of the proximity to East Africa and become a large importer of LNG from Mozambique and Tanzania. These two countries started investing in natural gas exploration, and are now just a few years away from having all the infrastructure and production ready to start pumping natural gas to the LNG tankers in port terminals in the region.

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