Sembcorp Industries is pleased to announce that its wholly-owned subsidiary, Sembcorp Fuels (Singapore), has been appointed by the Energy Market Authority (EMA) as a new term liquefied natural gas (LNG) importer for Singapore, allowing it to import and sell regasified LNG to customers in the market.
Sembcorp was Singapore’s first commercial importer of natural gas, and has built core capabilities in gas import and retail over the last two decades. This appointment will enable Sembcorp to augment its offer of a diverse portfolio of energy generation sources and supplies in Singapore that now includes LNG, piped natural gas (PNG), biomass, waste, as well as solar.
As Singapore’s largest natural gas supplier and leading solar energy provider, Sembcorp is well-positioned to contribute to the nation’s energy transformation. Its portfolio of energy solutions will enable Sembcorp to provide sustainable, competitive and reliable energy for customers in Singapore, where natural gas continues to be a dominant energy source as the cleanest form of fossil fuel, while it grows its renewable energy efforts.
The appointment is not expected to have a material impact on the earnings per share and net asset per share of Sembcorp for the financial year ending December 31, 2021.