SINGAPORE (Reuters) – Singapore’s energy regulator said on Wednesday the country has established a fully government-owned entity called Singapore GasCo to centralise the procurement and supply of gas to the power sector in the city-state.
The entity would also reap economies of scale and negotiate more favourable gas contracting terms, procure natural gas from diverse sources, and sign longer-term gas contracts to provide more stable supply and prices, the Energy Market Authority (EMA) said in a statement.
The EMA also said Alan Heng has been appointed as Singapore GasCo’s chief executive. Heng was the group chief executive of Singaporean liquefied natural gas (LNG) company Pavilion Energy until March 2025.
In a move to boost the country’s energy security, Singapore had first announced in 2023 that it would create Singapore GasCo to centrally purchase and manage natural gas supply for the power sector.
The city-state relies on gas to generate 95% of its electricity.
Last year, a Singapore minister said the government expects the entity to start procuring LNG from 2026.
Singapore imported 6.35 million metric tons of LNG in 2024, according to data from analytics firm Kpler.
(Reporting by Emily Chow, Editing by Louise Heavens)
