Sembcorp faces off with three competitors in bid to import, sell LNG in Singapore

Only two firms will emerge victorious.

Sembcorp Industries faces stiff competition in its bid to import and sell liquefied natural gas (LNG) in Singapore.

The Energy Market Authority (EMA) today revealed that it has shortlisted four firms as potential LNG importers and vendors.

The four shortlisted firms are BG Singapore Gas Marketing, which currently supplies LNG locally; Temasek-owned Pavilion Energy; mainboard-listed Sembcorp Industries; and major oil player Shell.

The four firms bested ten companies that entered bids in the first stage of the Request-for-Proposal (RFP) to import the next tranche of Liquefied Natural Gas (LNG) into Singapore.

"As the bids received were very competitive and demonstrated a high level of quality in both price and non-price terms, EMA has shortlisted four companies to participate in Stage Two, instead of up to three companies as originally envisaged," EMA said in a statement.

Stage Two will take place from 29 May 2015 to 29 February 2016. During this period, the four shortlisted companies will negotiate and enter into binding commitments with potential LNG buyers, and submit their proposals to EMA by 11.00am on 29 February 2016 for evaluation.

EMA will appoint up to two companies to import LNG for Singapore. The appointed importer(s) will each be awarded an exclusive franchise to import and sell LNG in Singapore. This franchise will be valid for three years from the date of licence issuance, or when they have sold 1 Mtpa of LNG, whichever is earlier.

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