SINGAPORE (Oct 24): Singapore, which is vying to become a regional centre for the trading of liquefied natural gas in Asia, picked Royal Dutch Shell Plc and Pavilion Gas Pte Ltd as its next suppliers of the fuel. Under that deal, BG was to supply 3 million tons of LNG annually over 10 years starting in 2013. “Singapore will carry out a consultation starting this quarter on spot LNG imports,” Iswaran said. Singapore LNG Corp, which operates the city-state’s first receiving terminal, has three storage tanks at its Jurong Island facility. Spot LNG in Singapore rose to US$6.119 per million British thermal units last week, climbing to trade above US$6 for the first time since January.

Source: The Edge Markets October 24, 2016 08:15 UTC