Australia, Singapore sign LNG and energy security pact
Australia and Singapore have signed a protocol to intensify cooperation on energy supply chains and trade, in a bid to reinforce LNG flows and regional fuel resilience amid persistent global disruptions.
Kinetics starts high-capacity FSRU build
Kinetics, a Karpowership initiative, has begun construction of its first high-capacity floating storage and regasification unit, LNGT Karadeniz, at Seatrium’s Tuas Boulevard yard in Singapore. The vessel will provide up to 600 million standard cubic feet per day of regasification capacity.
Singapore secured sufficient LNG to last until year-end
Singapore has secured enough LNG from outside the Middle East to last through the end of this year, as state-owned buyer GasCo accelerated spot purchases to replace cargoes affected by disruptions around the Strait of Hormuz. Negotiations are underway for long-term offtake from the US, Australia and Canada.
Singapore buys additional LNG from outside the Middle East
Singapore’s state-backed gas buyer GasCo is stepping in to secure additional LNG cargoes as several Qatari shipments were disrupted by the regional conflict. Natural gas is Singapore’s main source of electricity, with about 60% of supply imported via seaborne LNG.
CCCC secures Singapore LNG contract
China Communications Construction Company (CCCC) has been awarded a contract to supply onshore connecting infrastructure for Singapore’s second LNG terminal. The contract was awarded by state-owned terminal operator Singapore LNG, though the financial terms of the deal were not disclosed.
Singapore’s GasCo in talks to secure LNG supply
State-owned Singapore GasCo is in talks with prospective LNG suppliers, targeting operational readiness by January 1, 2026. From that date, the state buyer expected to purchase LNG from a diversified portfolio and supply it to power producer under a new procurement framework.
ABB to power Singapore’s first FLNG terminal
ABB has secured a contract from Hanwha Ocean to supply the electric power and propulsion system for Singapore’s first floating liquefied natural gas (FLNG) terminal. Once in service, the terminal will increase Singapore’s LNG import capacity by 50% and add flexibility to the nation’s gas grid.
Trafigura to deliver 1.5 mtpa of LNG to KOGAS from 2026
Trafigura has agreed to supply 1.5 mtpa of LNG to Korea Gas Corp (KOGAS) over ten years, beginning in 2026. Deliveries will include cargoes sourced from Cheniere Energy.
KARMOL names FSRU in Singapore
KARMOL, a joint venture between Karpowership and Japan’s MOL, has named its latest Floating Storage and Regasification Unit (FSRU) at Seatrium’s yard in Singapore. The four conversions include Karmol LNGT Powership Africa, Karmol LNGT Powership Asia and Karmol LNGT Powership Europe.
The contract strengthens Seatrium’s position as a leader in the highly specialised FSRU conversion market. Works entail the instalment of a regasification skid and supporting systems such as cargo, utility, spread-mooring, offloading, electrical and automation.
KARMOL LNGT Powership Africa (ex-Dwiputra, built 1994) arrived off Dakar, Senegal, in June 2021. The vessel has a storage capacity of 125,000 cubic meters and a scalable regas capacity of 15 to 300 million standard cubic feet per day (mmscfd), adding to the Turkish company’s global fleet of LNG-to-power solutions.
Karpowership, part of Istanbul-based Karadeniz Holding, has the world’s largest fleet of Powerships with 40 ships and a combined capacity of over 7,500 MW. Earlier this year, the Turkish company contracted MAN Energy Solutions to supply and install 48 dual-fuel engines.
Interconnectors poised to reduce gas-burn in Singapore
Singapore is at the heart of an evolving regional power grid which is poised to lower the share of LNG-fuelled power generation. If all proposed interconnections get built, they could unlock up to 25 GW of renewable and energy storage capacity worth over $40 billion, Rystad Energy reckons.
Today, over 96% of Singapore’s electricity is generated by burning natural gas which needs to be imported as LNG. Yet, Rystad analysis finds that importing electricity through the regional grid is cost-effective for the city state and could help reduce CO2 emissions by 13 million tons per year.
Higher load factor helps reduce electricity cost
Though CCGT are flexible and reliable in terms of operation, comparing the levelized cost of electricity (LCOE) reveals that electricity imports via ASEAN interconnectors may offer a more cost-effective alternative to building new domestic CCGT capacity. Singapore’s Electricity Market Authority (EMA) current regulatory framework require projects to reach an annual load factor of at least 60% within five years of commercial operation. For project developers there is a strong economic incentive to exceed this target.
Raising the load factor target from 60% to 100% could lower the overall LCOE, as this helps spread transmission costs more equally. This impact is particularly significant in countries such as Malaysia (Sarawak), Cambodia and Vietnam, where long transmission distances amplify cost optimization benefits particularly for hydropower projects
Solar-plus-storage hybrid systems, with optimized direct current/alternating current (DC/AC) configurations and appropriately sized battery energy storage systems (BESS), can already achieve load factors above 90%. By integrating solar and BESS technologies with the necessary backups, these systems can reach the level of reliability required by Singapore’s EMA and could be comparable to other dispatchable energy sources.
“Hybrid systems could deliver lower LCOEs than many in the industry currently anticipate. Singapore, strategically positioned at the heart of this evolving energy system, stands to gain significantly,” said Rystad’s renewables analysts Nevi Cahya Winofa.
