Issue 2 | APRIL 2012
Mr S. Iswaran shares with us his views of the terminal

Q: Since your last visit during the groundbreaking in March 2010, what struck you most about the terminal’s progress so far?

I am happy with the good progress made at the LNG terminal. It has been two years and the LNG terminal is 80% completed. It was heartening to see the pieces come together with a number of the key installations such as the first two LNG tanks and the primary jetty almost completed. Our initial plans for the LNG terminal was to have two tanks process up to 3.5 million tonnes of LNG per year. However, as take-up for LNG has been good, we decided to expand the terminal to include a third tank and additional facilities. That will increase our LNG throughput capacity to 6 million tonnes per year. The LNG terminal will unlock opportunities for Singapore to explore importing unconventional sources of gas such as shale gas. When the terminal is completed in the second quarter of 2013, Singapore can look forward to more competitively-priced and reliable supplies of LNG.

Q: How does the LNG terminal fit into Singapore’s energy plans?

We developed the LNG terminal with the primary objective of gaining access to global LNG sources to meet our domestic energy needs. Such diversity of options will also reduce our price and supply risks. Hence, the terminal is a key part of our efforts to enhance our energy security.

Q: Do you foresee Singapore becoming a regional hub for LNG trading?

We are open to the idea of leveraging on the terminal as a platform to facilitate trading. The terminal could facilitate the physical trading of LNG as well as financial trading. We are open to both options. We’ve seen a steady growth in Singapore’s LNG trading sector in recent years, including the establishment of offices here by major trading houses. The LNG eco-system will be enhanced come 2013 when the LNG Terminal commences operations. This will boost plans to turn Singapore into a regional LNG trading hub.
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