SIEW 2014: Singapore Seeking To Become Lng Trade Hub
Singapore is seeking to become Asia's hub for LNG business, with an aim of invigorating trading and in turn bringing down prices...
Singapore is seeking to become Asia’s hub for LNG business, with an aim of invigorating trading and in turn bringing down prices. In addition to the opening of its first open-access LNG terminal in 2013, the city-state is already the regional center for oil and coal transactions, making Singapore well positioned to potentially be the answer to Asia’s woes of rising energy prices. Compared to U.S. and Europe, Asian countries such as Japan are often plagued by rising energy costs. The Great East Japan Earthquake of 2011 has also resulted in energy costs weighing heavily on Japanese households and companies. Japan is hence open to exploring cooperation with Singapore on this front to alleviate cost challenges.