SINGAPORE: Singapore’s GasCo is currently in talks with liquefied natural gas (LNG) suppliers for long-term contracts, its CEO Alan Heng told the Asia Gas Markets Conference on Tuesday (Oct 28).
The company, a government-owned entity set up to centralise the procurement and supply of gas to Singapore’s power sector, will be operationally ready by Jan 1, 2026.
It will be ready to start procurements by then on a spot basis if required, though GasCo wants to have a series of long-term contracts with good certainty of supply, according to Mr Heng.
“We will, from time to time, take advantage of the spot market, but it will be very calibrated, because we really do not want to see a situation when power prices go up by 50 per cent, 100 per cent in Singapore because (we are) uncontracted,” he said.
