Sembcorp, Indonesia ink new gas deal

The Gas Sales Agreement seeks to import natural gas, worth S$1.9b. 

Sembcorp Industries (Sembcorp) has signed a gas Sales Agreement to import natural gas piped from Indonesia, estimated to be valued at S$1.9b. 

The agreement is expected to take effect by the second half of 2023, depending on the necessary agreements to transport the new supply of gas. 

“The GSA supplements Sembcorp’s existing natural gas supply from piped and liquified sources, allowing it to maintain its position as Singapore’s leading natural gas Importer,” Sembcorp noted. 

“Sembcorp is committed to supporting Singapore with a stable and resilient supply of energy in its transition towards a net-zero future.”

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The signing of the GSA is in the ordinary course of business of Sembcorp and its performance is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending 31 December.