Asian duo sets its cap on enhancing LNG collaboration

Singapore’s Energy Market Authority (EMA) and Korea Gas Corporation (KOGAS) have inked a memorandum of understanding (MoU) to step up cooperation in the areas of liquefied natural gas (LNG) procurement and supply chain management.

Under the MoU, the two companies intend to share best practices and knowledge on the procurement and management of LNG supplies while enabling training and learning opportunities through staff exchange.

EMA Chief Executive Officer (CEO), Shih Chun Ngiam, and KOGAS President and CEO, Yeon-Hye Choi, signed the MoU at an event held at KOGAS’ Incheon LNG terminal. This follows a similar agreement EMA penned with Japan’s JERA in April.

EMA CEO noted: “As a small country with limited natural resources for power generation, natural gas will remain a major component in our energy mix while Singapore shifts towards cleaner and greener energy sources. We appreciate this partnership with KOGAS which will enhance our knowledge and expertise in the management of LNG supply and help strengthen our energy security.”

Singapore has recently been busy with LNG-related developments. At the end of May, one of Fairfield Chemical Carriers’ dual-fuel LNG newbuilds completed its inaugural bunkering in the country, while Hapag-Lloyd held a christening ceremony for one of its LNG dual-fuel containerships, Singapore Expres.

On the other hand, KOGAS inked a deal with Woodside to supply Korea with LNG in the long term. Starting in 2026, the Australian player is slated to deliver 0.5 million tons of LNG per year during a 10.5-year contract.