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More Heng Ong Huat in LNG sector as New Compqny setup in 2024 for bulk purchase to secure SG Energy needs
- Thread starter k1976
- Start date
For instance, during the 2021-2022 global energy crisis, the gencos reduced the volume of their gas contracts when prices were high, which led to large swings in wholesale electricity prices, said the authority.
Many gencos have been reluctant to enter into long-term contracts, which typically offer a greater certainty of delivery and price stability, as they do not want to be exposed to market volatility and uncertainties in the long term.
Many gencos have been reluctant to enter into long-term contracts, which typically offer a greater certainty of delivery and price stability, as they do not want to be exposed to market volatility and uncertainties in the long term.
Singapore gets its natural gas from two sources: piped natural gas from Indonesia and Malaysia, and liquified natural gas (LNG) from a number of countries.
There are currently four licensed importers of LNG: ExxonMobil LNG Asia Pacific, Pavilion Energy Singapore, Sembcorp Fuels (Singapore) and Shell Eastern Trading.
“In addition, global developments and the energy transition are likely to lead to more volatile oil and gas markets, which may further reduce the risk appetites of generation companies,” said EMA.
There are currently four licensed importers of LNG: ExxonMobil LNG Asia Pacific, Pavilion Energy Singapore, Sembcorp Fuels (Singapore) and Shell Eastern Trading.
“In addition, global developments and the energy transition are likely to lead to more volatile oil and gas markets, which may further reduce the risk appetites of generation companies,” said EMA.
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