“Moving forward, we will take a more deliberate and coordinated approach to gas procurement,” says Gan. “We will aggregate the demand for gas from the power generation companies and centralise the procurement and supply of gas to the power sector.”
The Ministry of Trade and Industry (MTI) and the Energy Market Authority (EMA) will establish a single buyer of natural gas for Singapore’s power generation sector next year, in a bid to improve the security and resilience of natural gas supplies.
Singapore’s current gas procurement framework, which relies on individual power generation companies’ procurement strategies, cannot guarantee that the nation will have sufficient gas to meet its power needs during times of crisis, says Minister for Trade and Industry Gan Kim Yong in the Singapore Energy Lecture — the opening speech for the Singapore International Energy Week (SIEW) on Oct 23.
