The gas unit of Singaporean conglomerate Keppel Corporation has completed the first import of LNG under Singapore’s Spot Import Policy, which allows up to 10% of Singapore’s total long term contracted gas supplies to be imported on a spot cargo basis.
Keppel Gas, a wholly-owned subsidiary of Keppel Infrastructure Holdings, said Monday the spot cargo of 160,000m3 of liquified natural gas, which reached Singapore on 10 April 2019, originated from a liquefaction project in North America, also marking the first time that Keppel Gas has diversified its gas supply portfolio beyond Southeast Asia.
The LNG cargo will be regasified as feedstock for Keppel’s downstream customers and end users, including Keppel Merlimau Cogen, over a continuous period of 30 days, Keppel said.
Keppel Gas is an importer, shipper and retailer of natural gas in Singapore’s gas market. Its imported natural gas supply portfolio comprises long-term piped natural gas and LNG contracts, and is supplemented from time to time with spot LNG import.
“We are pleased to have deepened our collaboration with industry partners across the gas value chain to deliver competitive gas supplies promptly. By tapping the opportunities offered by the spot LNG market, we are able to ride on global trends to support our integrated energy business over the long term,” said Janice Bong, General Manager (Energy Infrastructure), Keppel Infrastructure.