Singapore GasCo, a fresh government-owned organization established to centralize the procurement and supply of healthy gas in order to meet the nation’s electricity needs.  ,
In a joint media release released on Wednesday ( May 7 ), the Energy Market Authority ( EMA ) and GasCo stated that it will be able to “reap economies of scale and negotiate for more favourable gas contracting terms.”
GasCo will even purchase natural gas from a variety of resources and enter long-term oil contracts to guarantee a more predictable supply and cost, they continued.
Using transported natural gas, about 95 % of Singapore’s electricity is produced. According to the state site SG101, this is primarily supplied by pipes from Malaysia and Indonesia.
Six of the current oil agreements with Indonesia and Malaysia are also scheduled to expire between 2018 and 2029, with no assurance of regeneration, according to the site.  ,
Natural gas will continue to play a significant role in ensuring our strength stability and facilitating an orderly change as we move toward a net-zero energy transition by 2050, according to EMA and GasCo on Wednesday.  ,
Former Pavilion Energy team CEO Alan Heng has been appointed as the CEO of GasCo. Heng has over 37 years of experience in the energy industry, according to the transfer, and has also held numerous senior management positions at ExxonMobile for 23 times.