Keppel Offshore & Marine Ltd has clinched contracts worth a combined value of about S$300 million, including a contract for the design and construction of a LNG bunker vessel.
Nick Prowse and Penny Cygan-Jones, Norton Rose Fulbright LLP, UK, consider the global outlook for the LNG industry, with a focus on recent developments in the US, Asia, Australia, South Africa and Africa.
Singapore LNG is seeking expressions of interest from interested parties for the use of a potential new LNG storage tank.
Asian LNG spot prices have experienced a 10% slide this week to a more than three month low due to declining oil prices.
Increasing supply and dwindling demand have caused Asian LNG spot prices to fallen to an over two month low.
The Maritime and Port Authority of Singapore has become the third port member to join SEA\LNG, alongside Port of Rotterdam and Yokohama-Kawasaki International Port Corporation (YKIP).
Singapore authorities are working to ensure the availability of low-sulfur marine fuels before the new IMO 2020 emission regulations come into play.
Asian spot LNG prices have suffered a further decline from multi-year seasonal highs as demand remains low.