Keppel Infrastructure’s unit Keppel Gas has entered into a heads of agreement with Petronas to purchase up to 1 mtpa of LNG over 10 years.
The HOA is conditional upon, amongst others, Keppel Gas obtaining the approval and import license from Singapore’s Energy Market Authority, the company said in a statement.
Ong Tiong Guan, CEO of Keppel Infrastructure said: “This is another of many steps that Keppel has committed, over the last decade and more, to support our government’s efforts to improve the competitiveness of energy supplies to Singapore. The conclusion of the heads of agreement between Keppel and Petronas will be one of the key enablers for new possibilities and opportunities to be developed in Singapore’s fast growing LNG industry.”
The LNG will be sourced globally from Petronas LNG’s extensive and growing portfolio.
This LNG purchase will bolster Keppel Gas’ portfolio of natural gas and allow Keppel Gas to offer competitive gas supply options to its customers in Singapore, the statement said.
Currently, Keppel Gas has two existing agreements with Petronas for piped natural gas.
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Press Release; Image: MISC