Keppel sign LNG deal with Petronas
The deal will allow Keppel Gas to boost natural gas supply to its customers in Singapore
Keppel Infrastructure’s unit Keppel Gas has signed a heads of agreement (HOA) deal with Petronas to purchase up to 1 mtpa of LNG over 10 years.
The HOA is a series of conditions for Keppel Gas obtaining the approval and import license from Singapore’s Energy Market Authority.
Ong Tiong Guan, CEO of Keppel Infrastructure, said: “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.
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.”
By purchasing liquified natural gas from Petronas's global portfolio, Keppel Gas is looking to bolster its portfolio of natural gas and begin to offer competitive gas supply options to its customers in Singapore.
Currently, Keppel Gas has two existing agreements with Petronas for piped natural gas.