TechSci Research has released a report that analyses the demand and opportunities for liquefied natural gas in Singapore, predicting a compound annual growth rate of 10.39% during 2016-2025.
- Report states push from Singapore government towards adoption of cleaner energy sources will aid LNG growth.
- Singapore is emerging as LNG regional trading hub, which will also contribute to country’s fuel increase says TechSci.
- LNG supply also to increase thanks to deal between Singapore’s Pavilion Energy and British BP, who will supply 0.4 million tonnes of LNG per year starting 2019.
- Floating storage regasification units, government policies, low LNG prices and easy availability of LNG from Australia, Qatar will aid growth.
Read more about the projected future of LNG in Singapore via Techsci Research’s press release.