Regional Focus: Singapore moves closer to becoming a global LNG trading hub

E. Gerden, Contributing Writer Amid strong demand for LNG in the Asia-Pacific region and the need to secure regular gas supplies on a large scale, Singapore may become a major regional hub for LNG trade. The Asia-Pacific region accounts for approximately 70% of global demand for LNG, at present. This share will continue to grow over the next 10 yr–15 yr. Despite being the world’s largest consumer of LNG, the Asia-Pacific region does not have a central trading hub for the fuel. Historically, this has worked to keep import prices high for Asia-Pacific buyers, alongside the industry’s traditional preference for long-term contracts linked to oil pricing. More active spot sales of LNG on exist