Singapore Has Bought Enough LNG to Last for Rest of Year

Singapore has bought enough liquefied natural gas to last through the end of the year, as it replaces shipments stuck behind the Strait of Hormuz due to the Iran war.

State-owned Singapore GasCo Pte Ltd, which was established last year, secured shipments from regions outside the Middle East via the spot market, Chief Executive Officer Alan Heng said in an interview on Tuesday. The company is also eyeing long-term deals with various suppliers, including the US, Australia, and Canada, he said.