Singapore launches first LNG term supply tender, weighs third import terminal

Singapore’s state gas buyer GasCo has launched its first LNG procurement exercise to secure long-term supplies as the country prepares to expand gas-fired power generation. Singapore, which relies on natural gas for about 95% of its electricity, is also exploring a third LNG import terminal. The government plans to add five gas-fired power plants, increasing generation capacity by around 26% early next decade.