By centralising procurement, Singapore GasCo aims to reap economies of scale and negotiate for more favourable gas contracting terms, procure natural gas from diverse sources as well as enter into longer-term gas contracts to provide more stable supply and prices.
A government-owned entity, Singapore GasCo (Singapore GasCo), has been established to centralise the procurement and supply of natural gas to the power sector in Singapore, says the Energy Market Authority (EMA).
As the country pushes ahead to transition towards net zero by 2050, natural gas, which accounts for 95% of Singapore's electricity generation, will continue to play a crucial role in safeguarding our energy security and supporting an orderly transition.
