New government entity formed to centralise Singapore's natural gas procurement and supply

SINGAPORE has established a new government entity, Singapore GasCo, to centralize the procurement and supply of natural gas, aiming to enhance energy security as 95% of the country’s electricity relies on imported gas. GasCo will negotiate better gas contracts and source from diverse suppliers to stabilize prices amid expiring contracts with Malaysia and Indonesia. Mr. Alan Heng has been appointed CEO, and the initiative aligns with Singapore’s transition to net-zero emissions by 2050.