Singapore receives first ever LNG shipment
In an historic moment for the liquefied natural gas industry, the Qatari ship Umm Slal has docked at Singapore’s new LNG import terminal, marking the first ever delivery of LNG to Singapore.
The 2008-built, 266,000 cu metre vessel, controlled by Nakilat, arrived in Singapore on March 27, 2013. The ship sailed from Ras Laffan, Qatar, on March 18, carrying a cargo that will kick-start a new trade lane as further volumes of LNG will be shipped to the Singapore receiving terminal.
Although the first cargo has been delivered, the trade has not yet started in earnest, and is expected to pick up gradually throughout this year, say analysts.
The shipment comes amid further good news for LNG shipping in the Asia-Pacific region. Singapore government-owned investment fund Temasek has launched a new company called Pavilion Energy which will invest US$800m in LNG in the region.
Singapore offers good prospects as an LNG trading hub, due to its geographical location near the growing importers in south-east Asia and the world’s biggest importer, Japan.
Source: Lloyds List