LNG news: Singapore

Singapore is to import liquefied natural gas (LNG) in order to meet rising demand for energy. It's first LNG terminal will produce 3 million tons of LNG/year. Singapore aims to diversify its energy sources and to implement a more stable pricing structure. According to the International Price Competitiveness Ranking performed by the Institute for Management Development based in Switzerland, Singapore is now 29th out of 47 countries (compared with 42nd out of 48 countries in 2001).