The Energy Market Authority (EMA) has appointed ExxonMobil LNG Asia Pacific and Sembcorp Fuels (Singapore) as new term liquefied natural gas (LNG) importers for Singapore.

The license ensures that term LNG importers ensure their import and supply of regasified LNG to gas users in Singapore are competitive and reliable.

There are currently two term LNG importers in Singapore – Pavilion Energy Singapore and Shell Eastern Trading.

The two new term LNG importers were introduced to enhance competition and give Singapore gas buyers more options.

According to EMA, ExxonMobil and Sembcorp Fuels were chosen as their proposals were the most competitive among the ones received.

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Natural gas is one of the switches in Singapore’s vision for a more reliable, affordable and clean energy future.

Shares in Sembcorp Industries, which owns Sembcorp Fuels, closed 3 cents higher or 1.7% up at $1.82 on March 25.