Favourable shift for Asian gas buyers in 2015

MInister S Iswaran told delegates that “as demand and supply dynamics evolve, policymakers, suppliers and buyers must continue to work in partnership to ensure that markets and policies are ‘future-ready’.” (Photo credit: Conference Connections.)

The winds of change are blowing favourably for gas consumers in Asia, said Minister S Iswaran at the 10th LNG Supplies for Asian Markets Conference on 3 March. However, uncertainty and challenges remain. Cautioning consumers and producers to take a long-term view to ride out these fluctuations, he added that “our long-term policies must be flexible yet resilient to allow us to respond nimbly to changing global market developments”.

EMA is now evaluating nine bids received for Stage One of its two-stage Request for Proposals. Up to two LNG importers will be appointed to meet incremental demand beyond BG’s current 3 Mtpa franchise. Singapore’s Competitive Licensing Framework provides flexibility to access competitively-priced and reliable LNG supplies amid fluctuating global market conditions. Beyond domestic needs, Singapore is also developing itself as a regional gas trading hub.