Singapore’s Keppel is in a deal with Malaysia’s Petronas to buy up to 1 million-tonne of liquefied natural gas (LNG) per year, over a period of 10 years.
The deal is between Keppel Infrastructure Holdings through its indirect wholly-owned subsidiary, Keppel Gas and Petronas LNG, in which the agreement is conditional upon Keppel Gas obtaining the approval and import license from Singapore's Energy Market Authority.
According to Keppel, the LNG will be sourced globally from Petronas LNG's supply.
"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,” Dr. Ong Tiong Guan, Keppel Infrastructure CEO, says. “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."
Keppel Gas has two existing agreements with Petronas for piped natural gas.
Image from Keppel Gas.
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