Singapore will build a second liquefied natural gas (LNG) terminal in the east to support new industrial sites, power plants and to enhance energy security. This was revealed by Prime Minister Lee Hsien Loong at the official opening ceremony of the LNG Terminal.
Beyond the planning of infrastructure, PM Lee emphasised that Singapore continues to "remain open to all other energy options as they become commercially and technically viable". For example, Singapore has actively supported pilot projects in solar energy and invested in R&D in solar cell technology.
He added that Singapore will also develop and invest in human capital to support the growth of the sector. PM Lee cited Singapore LNG Corporation Pte Ltd (SLNG) as a good example of a company that grooms and develops employees. SLNG will be sponsoring scholarships for ITE and polytechnic students this year.
PM Lee also said that three broad strategies - building more infrastructure; being open to different energy sources; and developing manpower - help to keep Singapore's energy sector vibrant, dynamic and resilient.
PM Lee was joined by more than 400 guests on the evening of 25 February 2014 at Jurong Island to witness the opening ceremony of Singapore's first LNG Terminal. This marked a significant milestone in Singapore's energy journey and a very proud moment for SLNG, the owner and operator of the Terminal.
Seven years since the decision to build the LNG Terminal was first made, the S$1.7 billion project began commercial operations – on schedule and within budget – on 7 May 2013. The first commercial cargo was delivered from Equatorial Guinea by BG Singapore Gas Marketing Pte Ltd (BG), Singapore's LNG aggregator. As at 25 February 2014, more than 18 LNG vessels have called at the Terminal, delivering more than 56 million MMBTUs (Million British Thermal Units), or about 1.08 million metric tonnes of LNG to Singapore.
After the ceremony, guests went on a fascinating and eye-opening tour of the 40 hectare Terminal, where they got to see the LNG storage tanks, main jetty and caught a glimpse of an LNG ship at berth. The Terminal now has a throughput capacity of 6 million tonnes per annum (Mtpa), thanks to three storage tanks and two jetties. A fourth LNG tank is scheduled for completion by the end of 2017 and will increase the Terminal's capacity to at least 9 Mtpa.
Today, more than 90 percent of Singapore's electricity is generated from natural gas. At the opening ceremony of the LNG Terminal, PM Lee explained that the terminal allows Singapore to bring in "much more natural gas from global markets, including from anywhere in the world". This is important for diversifying Singapore's gas supplies and enhancing our energy security. With BG's franchise of 3 Mtpa nearing completion, EMA will be launching a competitive Request for Proposal for the next tranche of LNG imports.