Singapore's Energy Market Authority and Korea Gas Corp. sign MoU
Published by Jessica Casey,
Editor
LNG Industry,
The Energy Market Authority (EMA) has signed a new memorandum of understanding (MoU) with Korea Gas Corp. (KOGAS) with an expanded scope to explore joint procurement of LNG between Singapore and KOGAS.
The MoU is part of EMA’s efforts to further strengthen its LNG supply chains and energy security. It was signed (8 October 2024) at the Singapore-Korea Business Forum by Puah Kok Keong, Chief Executive of EMA, and Choi Yeon-Hye, President and CEO of KOGAS.
While EMA continues to pursue alternative energy sources, natural gas will continue to account for a significant share of Singapore’s energy mix during the energy transition.
“This partnership with KOGAS is an important one for us in enhancing our knowledge and expertise in the management and procurement of LNG supply. Joint procurement with other LNG buyers can potentially bring benefits to all par-ties such as better contract terms and pricing,” said Puah.
EMA and KOGAS signed an MoU in June 2024 with a focus on sharing best practices and knowledge on procurement and management of LNG. Both parties have agreed to further strengthen our collaboration to explore joint procurement of LNG supplies, as well as cooperation in chartering or operating LNG carriers.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14102024/singapores-energy-market-authority-and-korea-gas-corp-sign-mou/
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