Minister Mentor Lee Kuan Yew confirmed the country's plans to diversify its gas supply, currently made up of gas piped in from Malaysia and Indonesia, during a dialogue session on Tuesday. -- ST PHOTO: DESMOND WEE By Rachel Chang
SINGAPORE will be importing liquified natural gas from Qatar and storing it in a facility currently under construction on Jurong Island.
Minister Mentor Lee Kuan Yew confirmed the country's plans to diversify its gas supply, currently made up of gas piped in from Malaysia and Indonesia, during a dialogue session on Tuesday.
The partnership with Qatar, the world's biggest natural gas producer, comes amid uncertainties with the current suppliers, said Mr Lee during the session, which was part of the Singapore International Water Week and World Cities Summit 2010. 'We are buying gas from our neighbours, they are thinking of upping the price in spite of the contract,' he said to an audience of 700 senior officials and delegates.
Earlier this month, Indonesian government officials announced in Parliament a decision to renegotiate Indonesia?s natural gas export contracts with Singapore, due to its own domestic gas needs.
Singapore's partnership with Qatar has been anticipated ever since the Gulf emirate's Qatar Petroleum International bought into Petrochemical Corporation of Singapore last November.
The $1.5 billion LNG terminal on Jurong Island, due to be completed in 2013, will be able to store more than six million tonnes per annum.
Minister Mentor Lee Kuan Yew confirmed the country's plans to diversify its gas supply, currently made up of gas piped in from Malaysia and Indonesia, during a dialogue session on Tuesday.
The partnership with Qatar, the world's biggest natural gas producer, comes amid uncertainties with the current suppliers, said Mr Lee during the session, which was part of the Singapore International Water Week and World Cities Summit 2010. 'We are buying gas from our neighbours, they are thinking of upping the price in spite of the contract,' he said to an audience of 700 senior officials and delegates.
Earlier this month, Indonesian government officials announced in Parliament a decision to renegotiate Indonesia?s natural gas export contracts with Singapore, due to its own domestic gas needs.
Singapore's partnership with Qatar has been anticipated ever since the Gulf emirate's Qatar Petroleum International bought into Petrochemical Corporation of Singapore last November.
The $1.5 billion LNG terminal on Jurong Island, due to be completed in 2013, will be able to store more than six million tonnes per annum.
