The Energy Market Authority has named Sembcorp Fuels as a new term importer of liquefied natural gas (LNG) for Singapore. This move will allow the company to import and sell regasified LNG to market customers. Sembcorp is Singapore’s largest natural gas and solar supplier and its portfolio includes LNG, piped natural gas, biomass, waste and solar.
The appointment is not expected to have a significant effect on Sembcorp’s earnings per share for the financial year ending December 31, 2021 and the firm is set to announce specifics of its mid-to-long-term strategic shift toward renewable energy in May 2021.