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Singapore LNG conference = LNG oversupply may be resolved by 2025

2019/03/15 12:00

 

The 14th LNG Supplies for Asian Markets 2019 (LNGA 2019, organized by Conference Connection) was held on Mar 6-7 in Singapore. Market players that attended the conference said that a surplus of LNG would continue at least by to the end of 2020. But several players said that demand might exceed supply around 2025. “The buyers' and sellers' market for LNG tends to reverse about every three years,” a Japanese trader said. There were 43 companies involved in LNG trading in Singapore at the moment and the number would increase further. The Singapore government is positioning the development of the LNG industry as an important part of the country's economic development and aggressively progressing with legislation and infrastructure building. Singapore’s Senior Minister of State for the Ministry of Trade and Industry Dr. Koh Poh Koon said in a keynote speech that the country completed construction of the second jetty for LNG bunkering in February. Dr. Koon also said that Singapore would build the new No.5 LNG storage tank. Singapore LNG (SLNG), operator of the LNG terminal, collected expression of interest (EOI) for construction of the new storage tank last December. Singapore finished building the No.4 tank in 2018 and expanded its LNG storage capacity to a total of 800,000 cbm.

Japan’s Director of Petroleum & Natural Gas Division in the Ministry of Economy, Trade & Industry, Mr. Masato Sasaki, visited Singapore and delivered a special lecture at the conference. With the LNG market expanding, Mr. Sasaki said that the Japanese government plans to contribute to the creation of 5,000mt-sized markets through financing related projects and supporting system developments in LNG importing countries. Support will be given to Japanese companies involved only in liquefaction projects and also projects involving liquefaction facilities and receiving terminals in other countries, Mr. Sasaki said.

 

Singapore : Energy Desk  Satoshi Hagimoto  +65-6345-9894
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