Singapore to build second LNG-Terminal
Singapore plans to build a second receiving terminal for liquefied natural gas as it pursues a long-term strategy to become Asia’s LNG trading hub. The city-state, which generates more than 90 percent of its electricity using natural gas, is studying locations in the eastern part of the country for a new facility to support industries and power plants, Prime Minister Lee Hsien Loong said on Feb. 26, 2014 at the official opening of Singapore’s first terminal.
Singapore is trying to take advantage of its geography and stature as Asia’s oil-trading center to also become a leader in LNG. Asia has overtaken Europe as the world’s biggest gas importer, accounting for 46 percent of global trade, according to the International Energy Agency, which cites Singapore as best-placed to be the hub for liquefied natural gas.
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