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SINGAPORE: Construction for Singapore's first terminal for liquefied natural gas (LNG) is expected to start by early 2009.
Minister of State for Trade and Industry, Mr S Iswaran, said work has to begin soon if it is to be ready by 2012.
The terminal will be built by PowerGas, a subsidiary of Singapore Power, at a cost at least S$1 billion.
As part of Singapore's efforts to diversify energy resources, it will have a capacity of 3 million tonnes of gas per year.
Mr Iswaran said the Energy Market Authority is in the midst of appointing a buyer to procure LNG for the terminal.
He stressed that the main criteria is securing affordable, quality LNG for Singapore.
He said: "Our objective for Singapore is to obtain quality, reliable LNG at competitive prices on a global basis. So within these broad parameters, they will look at who offers the best value proposition.
"Of course, there are other considerations that are being mentioned by various parties - like the development of the industries and so on. But our primary objective is to have steady supply of gas at competitive prices."
- CNA/so
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