Regional LNG: Release: EMA appoints BG Asia Pacific as LNG aggregator
Saturday, April 19 2008 - 01:26 AM WIB
The appointment of BG was announced today by the Chief Executive of the Energy Market Authority, Mr Khoo Chin Hean. Mr Khoo said ?BG was selected for the attractiveness of its total solution for Singapore, including security of supply from BG?s diverse LNG supply portfolio at a competitive price and also its capability to grow the Singapore gas market.?
Mr S Iswaran, Senior Minister of State for Trade and Industry said ?We are pleased to welcome BG as a key player in our energy sector. As the LNG Aggregator, BG will play a strategic role in Singapore?s energy diversification efforts. We have taken a significant step into the global LNG market and with the entry of BG, Singapore will gain greater access to competitive, reliable and secure gas supplies from different parts of the world.?
BG and EMA have today entered into a Memorandum of Agreement (MoA) which is a comprehensive contract detailing BG?s responsibilities in the role of the Aggregator.
The role of the Aggregator is to aggregate demand for regasified LNG from all end-users of gas in Singapore, and to procure LNG supply for these end-users. BG will have an exclusive licence to import LNG and sell regasified LNG in Singapore for a demand of up to three (3) million tonnes per annum (Mtpa) starting in early 2012.
EMA welcomes BG to its new role here in Singapore.
EMA would also like to express its thanks to all the other companies that participated in the Aggregator selection process.
Some of the companies participating in the Aggregator selection process have requested EMA to keep their participation confidential. EMA will therefore not disclose the names of any of the participating companies. (end of release)