PAP government took over LNG terminal project and arguably caused LNG supply in Singapore to be in excess resulting in electricity production glut resulting in all Gencos but one being in the red.
Since government $$$ and LNG supply (use) promotion is in part responsible for Tuas Spring financial woes, isn't it then logical that Government should hereby take responsibility and take over the entire Hyflux Tuas Spring project as well?
"The LNG project was originally a private venture. But with the global financial crisis in 2008, the project became commercially non-viable and stalled. The Government then made a strategic decision to take over the project, so as to diversify our gas supply sources, and enhance our energy security. That was how I got involved in setting up an LNG company. "
From Minister Lawrence Wong FB account:
https://m.facebook.com/story.php?story_fbid=658114224229924&id=192130117495006
Absolutely delighted to see the official opening of our first Liquefied Natural Gas (LNG) terminal at Jurong Island yesterday!
I had set up the Singapore LNG Corporation in 2009 in my previous job at the Energy Market Authority (EMA). The LNG project was originally a private venture. But with the global financial crisis in 2008, the project became commercially non-viable and stalled. The Government then made a strategic decision to take over the project, so as to diversify our gas supply sources, and enhance our energy security. That was how I got involved in setting up an LNG company.
It was one of the biggest challenges I had to undertake in the civil service - recruiting people with LNG or related experiences (very hard to find!), assembling the project team, and building up the company from scratch. For 2 years, i ate, breathed and lived LNG. Fortunately, we had a very good team in EMA and SLNG - the board, CEO and management of the company, as well as the staff all worked very hard to get things going.
The team was also proactive in identifying potential risk areas. They worked closely with the contractor Samsung C&T to resolve issues before they flared up. That's how SLNG managed to build the terminal on time, within budget, and without any lost-time injury! I still remember how one of the site managers did an inspection and found some cracks in the construction support beams for the LNG tanks. The cracks were barely visible to the naked eye. But he noticed them. So we got the defected stuff changed early. Imagine if this had not happened - the cracks could have worsened over time, and resulted in delays and potentially more serious problems down the road.
So as we celebrate the opening of our first LNG terminal, let's also remember the many people who have worked hard behind the scenes to make this happen. The work they do are not always visible to the public eye. But they have all contributed to our energy security, and helped to make Singapore safer and more secure for all of us!
Since government $$$ and LNG supply (use) promotion is in part responsible for Tuas Spring financial woes, isn't it then logical that Government should hereby take responsibility and take over the entire Hyflux Tuas Spring project as well?
"The LNG project was originally a private venture. But with the global financial crisis in 2008, the project became commercially non-viable and stalled. The Government then made a strategic decision to take over the project, so as to diversify our gas supply sources, and enhance our energy security. That was how I got involved in setting up an LNG company. "
From Minister Lawrence Wong FB account:
https://m.facebook.com/story.php?story_fbid=658114224229924&id=192130117495006
Absolutely delighted to see the official opening of our first Liquefied Natural Gas (LNG) terminal at Jurong Island yesterday!
I had set up the Singapore LNG Corporation in 2009 in my previous job at the Energy Market Authority (EMA). The LNG project was originally a private venture. But with the global financial crisis in 2008, the project became commercially non-viable and stalled. The Government then made a strategic decision to take over the project, so as to diversify our gas supply sources, and enhance our energy security. That was how I got involved in setting up an LNG company.
It was one of the biggest challenges I had to undertake in the civil service - recruiting people with LNG or related experiences (very hard to find!), assembling the project team, and building up the company from scratch. For 2 years, i ate, breathed and lived LNG. Fortunately, we had a very good team in EMA and SLNG - the board, CEO and management of the company, as well as the staff all worked very hard to get things going.
The team was also proactive in identifying potential risk areas. They worked closely with the contractor Samsung C&T to resolve issues before they flared up. That's how SLNG managed to build the terminal on time, within budget, and without any lost-time injury! I still remember how one of the site managers did an inspection and found some cracks in the construction support beams for the LNG tanks. The cracks were barely visible to the naked eye. But he noticed them. So we got the defected stuff changed early. Imagine if this had not happened - the cracks could have worsened over time, and resulted in delays and potentially more serious problems down the road.
So as we celebrate the opening of our first LNG terminal, let's also remember the many people who have worked hard behind the scenes to make this happen. The work they do are not always visible to the public eye. But they have all contributed to our energy security, and helped to make Singapore safer and more secure for all of us!
