Premier Oil’s Singapore Gas Price Buoyed by Import Limits

Premier Oil Plc, the U.K. explorer that supplies natural gas by pipeline to Singapore, expects limited import capacity in the city state to hold back price competition until later this decade.

Premier ships gas from fields off Indonesia though the West Natuna Transportation System. It gets about $18 per million British thermal units, three times more than in Indonesia, Chief Executive Officer Simon Lockett said in an interview. The price for the fuel reached $23 last year, he said.