Regional LNG: EMA partners with PetroChina on LNG supply and procurement

By Romel S. Gurky

The Energy Market Authority (EMA) of Singapore announced on Thursday that it  has signed a Memorandum of Understanding (MoU) with PetroChina International Company Limited to collaborate on enhancing Singapore's expertise in managing and procuring Liquefied Natural Gas (LNG). The MoU aims to strengthen Singapore’s LNG supply chain and support its energy security efforts.

This partnership aligns with Singapore's ongoing initiatives to diversify its energy sources as it works toward achieving net-zero emissions by 2050. Under the MoU, EMA and PetroChina will explore opportunities for cooperation to fortify their respective LNG supply chains, facilitate knowledge exchange on market dynamics, and examine joint procurement opportunities for LNG.

Read also : Regional LNG: Singapore, S. Korea in LNG joint procurement pact

Additionally, the two parties will study ways to support Singapore’s role as an Asian LNG hub, as well as other sustainable development solutions, such as gas-to-power projects. Mr. Soh highlighted the importance of natural gas in Singapore's energy security strategy, noting that the partnership with PetroChina will enhance knowledge sharing and joint procurement, potentially securing better contract terms and pricing for LNG.

The EMA, under Singapore’s Ministry of Trade and Industry, is responsible for ensuring a reliable and secure energy supply, promoting competition, and developing Singapore’s energy sector.

Editing by Alexander Ginting