Singapore’s EMA pens LNG cooperation pact with South Korea’s Kogas

Singapore’s Energy Market Authority and South Korea’s Kogas have signed a memorandum of understanding to collaborate in liquefied natural gas (LNG) procurement and supply chain management.

EMA said in a statement the MoU was signed on Wednesday at Kogas’ Incheon LNG terminal by Ngiam Shih Chun, CEO of EMA, and Choi Yeon-Hye, president and CEO of Kogas.

Under the wide-ranging agreement, EMA and Kogas will share best practices and knowledge on the procurement and management of LNG supplies, as well as exchange of personnel for training and learning purposes.

“As a small country with limited natural resources for power generation, natural gas will remain a major component in our energy mix while Singapore shifts towards cleaner and greener energy sources,” Ngiam said.

“We appreciate this partnership with Kogas which will enhance our knowledge and expertise in the management of LNG supply and help strengthen our energy security,” he said.

In April this year, EMA signed a similar agreement with Japan’s power firm and LNG trader, Jera.

Singapore’s first LNG terminal on Jurong Island, operated by Singapore LNG, began commercial operations in May 2013.

It currently operates with two jetties, three storage tanks of 180,000 cbm each, a fourth storage tank of 260,000 cbm, and a peak sendout capacity of around 11 mtpa.

In October last year, SLNG also secured approval from the Singapore government to develop and operate the country’s second LNG import facility.

On the other hand, Kogas operates 77 LNG storage tanks at five LNG import terminals in South Korea.

The large terminals include Incheon, Pyeongtaek, Tongyeong, and Samcheok, while the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.

In addition to these facilities, the firm is building a large terminal in the western port city of Dangjin and expects to launch the first phase in 2025.

Kogas recently completed lifting the roof on the first 270,000-cbm tank at its Dangjin LNG import facility.

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