King & Wood Mallesons (KWM) has advised Sembcorp Fuels (Singapore) Pte. Ltd (Sembcorp) on its successful proposal to the Energy Market Authority (EMA) to be appointed as a term Liquified Natural Gas (LNG) importer for Singapore.
The EMA conducted a competitive request for proposal process to select two new LNG importers, taking the total number of term LNG importers in Singapore to four. The proposals by Sembcorp and Exxon Mobil LNG Asia Pacific (ExxonMobil) were determined by the EMA to be the most competitive proposals it received. Sembcorp and ExxonMobil join Pavilion Energy Pte. Ltd. and Shell Eastern Trading (Pte) Ltd as the four licensed long term LNG importers in Singapore.
The appointment will enable Sembcorp to import LNG on a term basis (that is, for periods of 1 year or longer) and sell regasified LNG to customers in the Singapore market, augmenting its existing portfolio of energy generation sources and supplies in Singapore, which now includes LNG, piped natural gas, biomass, waste and solar.
Lead KWM special counsel on the project, David Phua, said: "We are delighted to have assisted an important client and participant in the Singapore and regional energy sector, Sembcorp, on this milestone achievement. Sembcorp's appointment as a term LNG importer for Singapore followed an extremely competitive proposal process and solidifies its position in the region's energy market."
"By leveraging our deep experience and knowledge of Singapore's LNG and gas market, we helped Sembcorp negotiate its upstream sale and purchase agreement for the purchase of LNG to be imported as licensee and pull together a winning proposal," said David.
This announcement builds upon KWM's strong track record of work for Asia's leading LNG sector participants, from and in jurisdictions including Singapore, China, Australia, Japan, Bangladesh and Vietnam.